FMG little hope otherwise $11 range next.
Zaktualizowano
With current uncertainly commsec.com.au/market-news/the-markets/2021/not-so-grand-evergrande.html?icid=ContagionFears_Awareness-cus-unt-eng-cen-prpst-20211005-1
following is a snippet from news:
1. Either way, Aussie investors are indirectly exposed to Evergrande through the Chinese property sector’s insatiable demand for iron ore. The price of the steel-making ingredient - Australia’s most important export - has already halved from record highs of around US$233 a tonne in May, following China’s clampdown on the property sector and pollution.
2. A downdraught in Chinese property prices would further subdue construction and reduce iron ore demand. Of course, a potential Evergrande default would be catastrophic for steel demand and shares of Aussie-listed iron ore producers.
with current levle of uncertainlty, it's just like catching falling knife, unless we get trend reversal confirmation.
I will be looking for following conditions:
*if it goes below $13.50 then next stop would be $11 range.
Please note these are my own notes for future reference, by no means trading advise to anyone. Also, please feel free to comment or share your thoughts.
following is a snippet from news:
1. Either way, Aussie investors are indirectly exposed to Evergrande through the Chinese property sector’s insatiable demand for iron ore. The price of the steel-making ingredient - Australia’s most important export - has already halved from record highs of around US$233 a tonne in May, following China’s clampdown on the property sector and pollution.
2. A downdraught in Chinese property prices would further subdue construction and reduce iron ore demand. Of course, a potential Evergrande default would be catastrophic for steel demand and shares of Aussie-listed iron ore producers.
with current levle of uncertainlty, it's just like catching falling knife, unless we get trend reversal confirmation.
I will be looking for following conditions:
*if it goes below $13.50 then next stop would be $11 range.
Please note these are my own notes for future reference, by no means trading advise to anyone. Also, please feel free to comment or share your thoughts.
Uwaga
Please join my Slack Channel to form active traders community to analyse and discuss trading ideas, thanks:join.slack.com/t/newworkspace-moo8514/shared_invite/zt-x5sdmmj5-z_kBkv~tBzGHmfcp_DVMGw
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.