The Rise and Fall of Iron Ore

Iron Ore Futures on a daily timeframe via NYMEX have entered into a bear cycle crashing -23% from March 2017

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Iron Ore Futures on a weekly timeframe via NYMEX have another -500bps to fall until major .5-fib support at 64.37 level

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Here is a magnified view

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Iron Ore verse the SPX500. It’s one hell of a negative divergence.

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