Capesize

17950

Sep-17
0.00 0.00%

Panamax

11175

Sep-17
225.00 2.05%

Iron Ore

76.5

Sep-17
0.85 1.12%

Sing 380

278.25

Oct-17

Coking Coal

208

Sep-17
0.00 0.00%

Nola Urea

212.5

Sep-17
0.00 0.00%

FIS Technical – Iron Ore May 18


FIS Technical – Iron Ore May 18

The weekly chart is starting to enter a corrective phase having produced a bearish rejection candle.

On the intraday 1 hour chart it would appear that we are on Wace C of an Elliott wave correction with Fibonacci support at CNY 508.5 and CNY 493.6. The latter support being the 50% retracement level of the weekly chart.

Upside moves above CNY 565 would imply the corrective phase is over, whilst price action below CNY 421 has longer term bearish implications.

iron ore 25-1-18

To view the full report please click on the link