Iron Ore/FEF2! ~ Daily Swing Chart (Oct 2023)SGX:FEF2! chart mapping/analysis for med-long term swing trade strategies.
China's Iron (Ore) Dragon lays dormant while the country celebrates Golden Week (Oct 1st-Oct 7th).
FEF2!
Iron Ore Futures ~ Snapshot TA / Coiling like a Steel RollIron Ore Futures coiling like a steel roll in a series of Lower Highs & Higher Lows since October 2022.
Break above 116.60 = Bullish momentum towards 134.85 (38.2% Fib Retracement)
Break below 99.40 = Bearish momentum towards 77.60 (78.6% Fib Extension)
Seasonality typically favours the Bulls running strong into end of year - we'll see if it still rings true this year, given China's current economic woes..
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Futures: SGX:FEF1! SGX:FEF2! COMEX:TIO1! COMEX:TIO2!
ASX: ASX:BHP ASX:RIO ASX:FMG ASX:MIN ASX:CIA
NYSE: NYSE:VALE
