Iron Ore broke support at $60, warning of a decline to test the 2015 low at $40.
China’s crackdown on wealth management products may be fueling the sell-off.
4 Replies to “Iron Ore warns of further decline”
Comments are closed.
Iron Ore broke support at $60, warning of a decline to test the 2015 low at $40.
China’s crackdown on wealth management products may be fueling the sell-off.
Comments are closed.
why do you suggest that support is at $60? It appears to be at $54 and $48….
Hi Steve,
Support and resistance always tends to harden at the round numbers. $68.70 becomes $70, $61.80 becomes $60, $48 becomes $50, $54 …..well that stays at $54.
Why the ” Warns of further declines” , when it’s at the bottom of the Bollinger band?
In a ranging market price tends to oscillate between the bands. A break outside the bands suggests a trending market.