Iron ore prices have carved out a Descending Triangle pattern. That puts a breakdown on the table if prices pierce below wedge support. The measured move puts a downside target well below the 90 psychological level, leaving the 2021 low in focus.
Iron Ore Futures WEEKLY CHART perspective: The market acknowledging ~$94 as a level of interest which is also seen as a demand-supply zone. Must remain +$90-94 (along with ZAR weakness) for KIO to be supported here.
Iron ore has broken the main trendline of years... so for moment... we can see Iron future quite bad
This week is one of the busiest for the Australian Securities Exchange, with many of its biggest names delivering their respective earning reports. Among those reporting is the country’s largest mining company, BHP Group (ASX: BHP). BHP are expected to deliver their FY2022 results on 16 August 2022. In addition to BHP’s results, the miner announced an AU $8.4...
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Hey guys, Good time to load up on iron ore miners who have been sold off recently but i dont see prices falling below that major long term support line it has bounced off. This chart is part of my thesis on the Inflation cycle to calm down over the next few months but as commodities like iron ore, copper, Oil etc start to bull again as people still have cash...
check the chart please and hearing your idea would be appreciated. long term: we are in a downward correction phase (ZigZag) mid term: a possible upward could be possible.
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Iron ore as I was already mentioning is showing weakness and got a trend down! All iron mining companies related will suffer for a while!
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The Australian Dollar has weakened in recent weeks due to Iron Ore prices declining as China's zero covid policy has caused investors to fear a slowdown in the world's second-biggest economy. Australia exports 80% of Iron ore to China, so any slowdown in China will hit demand for Australia's commodity exports and put downward pressure on the currency. We also...
Iron ore has showed some weakness for moment, making most of commodities companies related to it being weak abroad. For moment its neutral position!
Iron Ore should reach at least $400 by EOY 2024, but likely much sooner than that
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