Iron ore is the big story in the markets right now and while we saw iron ore futures trading down 4% yesterday, the 8% fall in the spot price yesterday has...
Chris Weston
Pepperstone
Iron ore is the big story in the markets right now and while we saw iron ore futures trading down 4% yesterday, the 8% fall in the spot price yesterday has taken everyone back. Spot prices have made a lower low and some will be eyeing the $86.70 level seen last year as a possible target. Headlines that iron ore is in a bear market have been seen everywhere and the current fundamentals are not great for the commodity, with record inventories and falling steel prices. Price action certainly favours being short FMG and from a sentiment perspective there isn't the clarity to be long right now. When you see volumes at 116% above the 30-day volumes you know there is a fairly sizeable liquidation going on and if looking at longs it's advisable to see stabilisation in the iron ore price and falling volumes in the stock.
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Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market price action and advise on actionable trade ideas and investments in multiple asset classes.
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
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