Beware the iron ore death cross!

Tuesday, 12 March 2024

Rebar futures fell nearly 2%, and iron ore futures were smoked yesterday. Futures are fast approaching the “death cross” on the weekly chart:

Coking coal is at the cross:

To be honest, I have never found the “death cross” of short-term moving averages moving below long-term handy for anything other than good headlines.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.