Trading Buy – Iron Ore

At the time of writing, Iron Ore is trading $136.

It’s close to the $132 mark which is the upper end of the circled range in my article link below.

$132 is also its 100 week moving average.

Albeit there is a gap in the chart at $124.50 and I think it could be ‘backed and filled’, notwithstanding an additional 4%-7% decline, Iron Ore is nearing the region of a ‘trading buy’, which may give buyers a 35% bounce up to the $180 mark.

#ironore

September 8, 2021

by Rob Zdravevski

rob@karriasset.com.au.