Fortescue breaks as big iron bust builds

Thursday 12 October 2017

Dalian iron ore is falling again today:

The Aussie dollar is trying to climb back above 78 cents, former support now resistance:

Big Iron charts are starting to break. BHP is still in a bullish ascending triangle but is also threatening to double top:

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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.