{"id":18523,"date":"2019-07-06T01:37:12","date_gmt":"2019-07-06T01:37:12","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=18523"},"modified":"2019-07-06T01:37:12","modified_gmt":"2019-07-06T01:37:12","slug":"asx-iron-ore-at-120","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/","title":{"rendered":"ASX: Iron ore at $120"},"content":{"rendered":"<p>The ASX is still enjoying a massive tailwind from iron ore prices, with\u00a0 spot prices close to $120\/tonne.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-07-05-tr.png?w=525&#038;ssl=1\" alt=\"Iron Ore\" \/><\/p>\n<p>My concern is how long this tailwind will last. But the ASX 200 advances unperturbed, heading for a test of its 2007 high at 6830. Penetration of the rising trendline is unlikely but would warn of a correction to test support at 6000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-07-05-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<p>I continue to maintain a high level of cash in my Australian Growth portfolio because of long-term headwinds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ASX is still enjoying a massive tailwind from iron ore prices, with\u00a0 spot prices close to $120\/tonne. My concern is how long this tailwind will last. But the ASX 200 advances unperturbed, heading for a test of its 2007 high at 6830. Penetration of the rising trendline is unlikely but would warn of a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX: Iron ore at $120&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,57],"tags":[251,1902],"class_list":["post-18523","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","tag-asx-200","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: Iron ore at $120 - 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: Iron ore at $120 - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX is still enjoying a massive tailwind from iron ore prices, with\u00a0 spot prices close to $120\/tonne. My concern is how long this tailwind will last. But the ASX 200 advances unperturbed, heading for a test of its 2007 high at 6830. Penetration of the rising trendline is unlikely but would warn of a &hellip; Continue reading &quot;ASX: Iron ore at $120&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-06T01:37:12+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2019-07-05-tr.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX: Iron ore at $120\",\"datePublished\":\"2019-07-06T01:37:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/\"},\"wordCount\":79,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-07-05-tr.png\",\"keywords\":[\"ASX 200\",\"Iron Ore\"],\"articleSection\":[\"Australia &amp; NZ\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/\",\"name\":\"ASX: Iron ore at $120 - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-07-05-tr.png\",\"datePublished\":\"2019-07-06T01:37:12+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-07-05-tr.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-07-05-tr.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/06\/asx-iron-ore-at-120\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX: Iron ore at $120\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Clyde Russell at Mining.com comments: \"Even if Brazil\u2019s exports do remain slightly below normal, it may be the case that the iron ore forward curve\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":18539,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/07\/13\/asx-tailwinds-v-headwinds\/","url_meta":{"origin":18523,"position":1},"title":"ASX tailwinds v. headwinds","author":"Colin Twiggs","date":"July 13, 2019","format":false,"excerpt":"The ASX continues to enjoy a massive external tailwind, with iron ore spot prices holding at $120\/tonne. Headwinds stem mainly from domestic sources. Low employment and disposable income growth have slowed consumption, especially of durables such as housing and motor vehicles. Construction work done in the private engineering sector (mainly\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":19713,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/asx-resources-and-aussie-dollar-take-a-beating\/","url_meta":{"origin":18523,"position":2},"title":"ASX Resources and Aussie Dollar take a beating","author":"Colin Twiggs","date":"February 1, 2020","format":false,"excerpt":"The ASX 300 Metals & Mining index took a beating as concerns about coronavirus impact on Chinese imports soared. Breach of support at 4450 is likely and would warn of a test of primary support at 4100. Iron ore reaction is more muted but bulk commodities, especially iron ore and\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":57148,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/08\/31\/asx-threatens-a-fresh-advance\/","url_meta":{"origin":18523,"position":3},"title":"ASX threatens a fresh advance","author":"Colin Twiggs","date":"August 31, 2024","format":false,"excerpt":"The ASX threatens a fresh advance despite the headwind from an underperforming mining sector. The ASX 200 is testing resistance at its recent high of 8100, while rising Trend Index troughs above zero indicate growing long-term buying pressure. Breakout would offer a target of 8500. \u00a0 The advance is boosted\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":"ASX 200 Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-08-30-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-08-30-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-08-30-xjo.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":18628,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/09\/asx-dead-cat-bounce\/","url_meta":{"origin":18523,"position":4},"title":"ASX: Dead cat bounce","author":"Colin Twiggs","date":"August 9, 2019","format":false,"excerpt":"The ASX 200 found support at 6450\/6500 followed by a hesitant rally: a candle with a long tail followed by a short-bodied evening star. This resembles a typical dead cat bounce. Breach of 6450 is likely and would warn of a decline to test support at 6000. Gerard Minack in\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":18028,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/03\/22\/asx-200-financials-materials-test-support\/","url_meta":{"origin":18523,"position":5},"title":"ASX 200: Financials &#038; Materials test support","author":"Colin Twiggs","date":"March 22, 2019","format":false,"excerpt":"Financials are testing their new support level at 5900\/6000. Falling housing prices are likely to drag the index lower. Penetration of the rising trendline at 5800 would warn of another test of primary support at 5300. Materials are also testing their new support level at 12500\/12600 but respect is far\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\/18523","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=18523"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18523\/revisions"}],"predecessor-version":[{"id":18524,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18523\/revisions\/18524"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=18523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=18523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=18523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}