FIS Technical – Iron Ore Jan 18

FIS Technical – Iron Ore Jan 18

The weekly chart is showing bullish price action candles on support with an oversold stochastic. Market shorts should look to tighten risk.

From a technical perspective a market that is making higher lows and higher highs cannot be going down. For this reason we now regard the daily trend as bullish. Market pullbacks that trade below CNY 437 would suggest the bull bias has once again reversed.

iron ore 20-10-17

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