{"id":15602,"date":"2017-07-14T20:52:18","date_gmt":"2017-07-15T00:52:18","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=15602"},"modified":"2017-07-14T20:52:18","modified_gmt":"2017-07-15T00:52:18","slug":"asx-buoyant-as-iron-rallies","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/","title":{"rendered":"ASX buoyant as iron rallies"},"content":{"rendered":"<p>Iron ore broke resistance at $60 and is headed for a test of $70 per ton. This is a strong rally but it does not signal the end of the bear market. Only when the rally ends and there is another test of primary support at $53 will we be able to gauge long-term sentiment.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Iron Ore\" alt=\"Iron Ore\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-07-14-tr.png?w=525&#038;ssl=1\" \/><\/p>\n<p>The ASX 300 Metals &amp; Mining index broke resistance at 3000, completing a double bottom reversal with a target of 3250. Breach of 2750 is unlikely at present but would signal a primary down-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"ASX 300 Metals &amp; Mining\" alt=\"ASX 300 Metals &amp; Mining\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-07-14-xmm.png?w=525&#038;ssl=1\" \/><\/p>\n<p>The ASX 300 Banks index is testing resistance at 8500 but Twiggs Money Flow below zero continues to warn of long-term selling pressure. Breach of 8000 remains likely and would confirm the primary down-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"ASX 300 Banks\" alt=\"ASX 300 Banks\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-07-14-xbak.png?w=525&#038;ssl=1\" \/><\/p>\n<p>The ASX 200 is consolidating in a small triangle (some would call this a large pennant) between 5600 and 5800. Breakout will signal future direction. A lot will depend on iron ore (China) and the banks, which seem to be pulling in opposite directions at present.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"ASX 200\" alt=\"ASX 200\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-07-14-xjo.png?w=525&#038;ssl=1\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iron ore broke resistance at $60 and is headed for a test of $70 per ton. This is a strong rally but it does not signal the end of the bear market. Only when the rally ends and there is another test of primary support at $53 will we be able to gauge long-term sentiment. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX buoyant as iron rallies&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,43,57],"tags":[251,261,262,1902],"class_list":["post-15602","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-commodities-gold-commodities","category-stock-markets","tag-asx-200","tag-asx-300-banks-index","tag-asx-300-metals-mining","tag-iron-ore"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX buoyant as iron rallies - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX buoyant as iron rallies - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Iron ore broke resistance at $60 and is headed for a test of $70 per ton. This is a strong rally but it does not signal the end of the bear market. 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This is a strong rally but it does not signal the end of the bear market. Only when the rally ends and there is another test of primary support at $53 will we be able to gauge long-term sentiment. &hellip; Continue reading \"ASX buoyant as iron rallies\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_published_time":"2017-07-15T00:52:18+00:00","og_image":[{"url":"http:\/\/static.incrediblecharts.com\/images\/2017\/2017-07-14-tr.png","type":"","width":"","height":""}],"author":"ColinTwiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ColinTwiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/"},"author":{"name":"ColinTwiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5"},"headline":"ASX buoyant as iron rallies","datePublished":"2017-07-15T00:52:18+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/"},"wordCount":161,"commentCount":0,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2017\/2017-07-14-tr.png","keywords":["ASX 200","ASX 300 Banks Index","ASX 300 Metals &amp; Mining","Iron Ore"],"articleSection":["Australia &amp; NZ","Commodities","Stock Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/","name":"ASX buoyant as iron rallies - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2017\/2017-07-14-tr.png","datePublished":"2017-07-15T00:52:18+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2017\/2017-07-14-tr.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2017\/2017-07-14-tr.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"ASX buoyant as iron rallies"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. 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But this is a bear market. Also port inventories are climbing, while housing price growth is slowing. Expect another test of support at $50 is likely. Breach would signal another decline. The ASX 300 Metals & Mining index rallied off support at\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15344,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/26\/asx-retreats-as-iron-ore-breaks-support\/","url_meta":{"origin":15602,"position":1},"title":"ASX retreats as iron ore breaks support","author":"ColinTwiggs","date":"May 26, 2017","format":false,"excerpt":"Iron ore broke support at $60, signaling another decline. The medium-term target is $50*. * Target: 60 - ( 70 - 60 ) = 50 Resources stocks lost momentum, with the ASX 300 Metals & Mining index respecting resistance at 3000. Twiggs Money Flow seemed to be recovering after a\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15662,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/04\/asx-banks-spoil-the-iron-ore-party\/","url_meta":{"origin":15602,"position":2},"title":"ASX banks spoil the iron ore party","author":"ColinTwiggs","date":"August 4, 2017","format":false,"excerpt":"I underestimated the strength of iron ore which has now broken resistance at 70, suggesting that a bottom is forming. Strength of the latest rally indicates that the next correction is likely to find support at 60. The Resources sector responded, with the ASX 300 Metals & Mining index headed\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15452,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/16\/strange-week-on-the-asx\/","url_meta":{"origin":15602,"position":3},"title":"Strange week on the ASX","author":"ColinTwiggs","date":"June 16, 2017","format":false,"excerpt":"Strange week on the ASX, with strong jobs numbers from the ABS causing a surge in the Aussie Dollar and a more optimistic outlook on the ASX. But Iron ore continues to fall, headed for a test of 50. The ASX 300 Metals & Mining index respected resistance at 3000\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23055,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/05\/asx-iron-ore-goes-ballistic\/","url_meta":{"origin":15602,"position":4},"title":"ASX: Iron ore goes ballistic","author":"Colin Twiggs","date":"December 5, 2020","format":false,"excerpt":"The ASX 200 encountered mild resistance around 6600 but rising Twiggs Money Flow indicates buying pressure. Retracement that respects support at 6200 would signal another advance to the Feb 2020 high at 7000. Financial REITs ran into resistance at 1500, with small, overlapping ranges indicating a loss of momentum. The\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23207,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/12\/asx-boosted-by-iron-ore\/","url_meta":{"origin":15602,"position":5},"title":"ASX boosted by iron ore","author":"Colin Twiggs","date":"December 12, 2020","format":false,"excerpt":"Iron ore is trading at $152\/tonne, driven by surging demand from China and constrained supply from Brazil. The price jump will more than offset the Chinese trade embargo on a number of other Australian exports. But surging iron ore prices have also boosted the Australian Dollar, offsetting some of the\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=15602"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15602\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=15602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=15602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=15602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}