Iron Ore is cheaper than Firewood
September 2, 2021 Leave a comment
A ton of Iron Ore is now 25% cheaper than a ton of Jarrah firewood.
With all my writing about extremes and mean reversion, Iron Ore is reaching an interim point which increases probability of a ‘buying’ moment.
Currently, it is trading at US$145 per ton.
The chart below circles an area between US$124 and $132 which I think (in conjunction with my other indicators) present an opportunity for a ‘trading buy’.
Incidentally, that upward sloping line is Iron Ore’s 100 week moving average.
So, I’m looking for a 14% drop in the coming 15 days to satisfy a buying criteria and this will have an effect of your listed iron ore sensitive equities.
BHP at $40.45 perhaps?
September 2, 2021
by Rob Zdravevski
rob@karriasset.com.au
rob zdravevski's blog 