Good ‘ol days return as Big Iron crashes

Dalian is open and soft but holding: The good ‘ol days return today as Big Iron is getting hosed: FMG is falling -5% and describing a superb head and shoulders topping pattern: The uptrend is broken but we’ll need to see it breach the $5.80 neckline before the topping pattern is confirmed. RIO has a


Big Iron charts sicken as commodity traders puke

Dalian is open and following its recent pattern has launched again. We’ll see if it can hold this time during the day: Meanwhile, the sell-off for Big Iron is starting to do some chart damage. FMG is approaching the $5-handle again and its uptrend is busted: Any decent rebound at this point is going to


Big Iron correction continues

Dalian futures launched out of the blocks this morning but have been falling ever since: Big Iron is down: More ahead in my view. Some of the charts are starting to look interesting. RIO has broken its steeper uptrend and may be setting up for a good correction: WHC is close to breaking a bearish


Why is gold rising?

Macquarie does its best to explain:  The gold price settled today at $1,254/oz. Exactly one year ago it was $1,251/oz. That’s not the only similarity – in both cases the price rallied strongly in the new year after ending the previous year heading south as the Fed raised rates (14 December 2016 and 16


Market applauds Domainfax’s evil plan

Iron ore futures are flat after overnight falls suggesting a decent hit tomorrow but holding on despite Chinese house prices and sagging coking coal futures. The miners are down: Big Gas is weak despite strong oil. OSH is flying on a Goldman upgrade: Big Gold appears headed for a correction: The Big Debt bull is still


Fortescue blasts to new highs

The Big Iron rocket is punching skywards again today as Dalian adds another 1% to overnight gains: FMG is powering towards its highest intraday price since the GFC and will presumably break the closing price today: A technician would suggest an $8 target then on to the all time high. Macquarie has more on what could


Big Iron up as China boosts coking coal

Big Iron is firm today as China has announced the suspension of coking coal imports from North Korea. Not a trivial amount of 22mt. Dalian is 1.5% and coking futures a bit more. Of the majors only FMG is up, however, for no obvious reason: Big Gas likewise is looking a bit toppy: Big Gold


Big Iron firms again

Dalian is roughly flat today after overnight gains: Big Iron is modestly up too though FMG’s possible double top still lurks: Big Gas is rebounding after OPEC minister comments supported oil: Big Gold is off. Not sure it can get much further unless Donald does something more stupid: Big Debt continues its sneaky bull market.