Iron Ore Prices at Risk as Prices Trade in Descending Triangle Iron ore prices have carved out a Descending Triangle pattern. That puts a breakdown on the table if prices pierce below wedge support. The measured move puts a downside target well below the 90 psychological level, leaving the 2021 low in focus.
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BHP Group to explore new territory of $53 per share?This week is one of the busiest for the Australian Securities Exchange, with many of its biggest names delivering their respective earning reports. Among those reporting is the country’s largest mining company, BHP Group (ASX: BHP). BHP are expected to deliver their FY2022 results on 16 August 2022.
In addition to BHP’s results, the miner announced an AU $8.4 billion to acquire OZ Minerals (ASX: OZL) last week. As OZ Minerals have already rejected the take-over offer, additional rounds of bids will likely follow over the next week or two.
The monthly chart indicates that BHP is currently in a bullish trend and has tested a key resistance just above $48 a share twice in the past month and a half.
BHP is currently trading inside a parallel channel, and it looks like it might be about to bounce from the support, in confluence with the 50-DMA.
Fibonacci extension levels indicate that the price might reach an all-time high of $53, if bullish fundamentals continue.
From the perspective of the daily time frame, BHP looks a little more vulnerable with the suppression of Iron Ore prices, one of its primary exports. It was only last month that the mineral rebounded from a multi-month low, from $101 USD/T to $110 USD/T but is still contending with the dark clouds hanging over the Chinese construction sector. However, Iron Ore is mor eon the side of oversold rather than overbought according to the RSI indicator.
Iron Commodity SingaporeSun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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Iron ore miners to Bull hard Hey guys,
Good time to load up on iron ore miners who have been sold off recently but i dont see prices falling below that major long term support line it has bounced off.
This chart is part of my thesis on the Inflation cycle to calm down over the next few months but as commodities like iron ore, copper, Oil etc start to bull again as people still have cash at hand to deploy as prices come back down. The Bullwhip effect has certainly started with retailers increasing stock by +25% while sales Revenue only increases by 3% something that confirms prices have started to fall but Major support being hit here and in other commodity showing people are back to buying and the commodities will lead the way back up starting the next wave of inflation that will hit a higher peak then current levels.
US Mid West Steel Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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Iron Ore China Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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North Europe Steel Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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Mid West Steel Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
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Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
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Iron Ore Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures |
USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
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AUD/USD & AUD/JPY Analysis / Iron Ore & InflationThe Australian Dollar has weakened in recent weeks due to Iron Ore prices declining as China's zero covid policy has caused investors to fear a slowdown in the world's second-biggest economy.
Australia exports 80% of Iron ore to China, so any slowdown in China will hit demand for Australia's commodity exports and put downward pressure on the currency.
We also have Australian inflation data out tomorrow, which could surprise to the upside and beat economists' forecast, causing a rally higher in the Australian Dollar on rate hike expectations.
In this video I break down what could play out and how to make money from the potential outcomes.
Iron Ore Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
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USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
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Iron Ore Commodity China USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
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USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
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ShortThe price has rebounded today, after falling to the support area of 138-140. However, the fact that the price has not broken through the confluence between EMA21 and EMA100 above H4 further with EMA21 cutting below EMA100 has raised concerns for the buyers.
=> Recommendation: Sell if the price rises to 158, STP 172, TP1: 140, TP2: 130.
Iron Ore Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures |
USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
#debadipb #profitsolutions
Cup and Handle Breakout - Iron Ore Iron ore prices are breaking out from a Cup and Handle pattern. The late-October price gap may fill if prices continue higher. Prices may have seen a bottom back in November, with the bullish fundamental narrative strengthening as China moves to support growth. A reversal, however, may see a move back to the 100 psychological level.