Australian banks Australian LNG Australian Shares Gold Iron ore price

Big Iron charts sicken as commodity traders puke

Monday 13 March 2017

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 form up a spectacular head and shoulders top unless it can blast to new highs which I can’t see happening.

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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.