FMG has rallied since late-Q2 hitching a ride with the rising Iron Ore price..
- Aug 9, 2017
- 1 min read
Fortescue has put in a good rally since late-Q2 hitching a ride with the rising Iron Ore price. Weekly momentum is about to turn up from bearish decreasing to increasingly bullish by next week. Therefore, there is a high probability for PA to be bullish over the next several weeks to several months..
The MACD is on the verge of forming a bullish up-cross with an expanding positive histogram by next week. Momentum is gradually turning bullish. The Stochastic has been forming bullish higher-low's since early-Q3 within the bearish continuation region (0 - 20.0) and has recently entered oversold conditions with an up-cross of the 20.0 line.
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