Iron Ore warns of further decline

Iron Ore broke support at $60, warning of a decline to test the 2015 low at $40.

Iron Ore

China’s crackdown on wealth management products may be fueling the sell-off.

4 thoughts on “Iron Ore warns of further decline

  1. Gavin says:

    Why the ” Warns of further declines” , when it’s at the bottom of the Bollinger band?

  2. why do you suggest that support is at $60? It appears to be at $54 and $48….

    • ColinTwiggs says:

      Hi Steve,
      Support and resistance always tends to harden at the round numbers. $68.70 becomes $70, $61.80 becomes $60, $48 becomes $50, $54 …..well that stays at $54.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s