Doomed Fortescue goes berserk!

Monday 7 March 2016

I noted last week the charts on iron ore miners were very bullish and holy cow, Batman, Fortescue has gone nuts today:

My charting software has blown a gasket so far this morning so I can’t give you more but suffice to say that FMG has just broken out big. Of course I expect iron ore to roll over soon enough so…

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.