TECHNICALS - IRON ORE FUTURES - DOWNSIDE TECHNICAL TARGET @345 REACHED

Angela Mangan

QMG Pty Ltd

The Dalian iron ore futures contract closed below major support on 28/10/15 at 358 (as highlighted in the 29/10/15 Wire) which indicated the potential for the next downward move. Major subsequent support / the nominated downside technical price target located at 345 was reached yesterday. This was the minimum expectation for a pullback. The technicals remain negative given there is no sign of technical base forming emerging.


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Angela Mangan
Technical Analyst
QMG Pty Ltd

Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.

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