Australian LNG Commodities Iron ore price

Big iron reaches for the stars

Monday 7 March 2016

Big iron is reaching for the stars with BHP flying 5.5%, RIO 3.3% and FMG 13%. Dalian has not added to its overnight surge but hasn’t fallen back either:

The charts all remain wildly bullish with upside targets described below:

FMG has broken out of the trading range that has capped it for over a year:

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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.