My take on Iron Ore prices

3 months ago, Iron Ore appeared in the overbought category of my corresponding weekly editions of ‘Macro Extremes’.

That observation (along with my other metrics) tells industry participants and traders a) you have little business establishing new long positions and b) sellers should consider selling.

As #ironore prices approach oversold territory, the downward trend has strength.

I’ll look for a lower entry price and that translate into the equity prices of related companies.

p.s. #steel companies will have a better time to buy as well.

March 14, 2024

by Rob Zdravevski

rob@karriasset.com.au