Hot Copper Charting and Chat, page-304

To quote @Beany72 "that escalated quickly"
I am posting a weekly and daily chart showing where I got my original ideas from.
Obviously the moves in FMG sp are driven by the Vale catastrophe so where I thought the sp might be stopped has been passed and now possibly has more upside, we shall see.



I was looking at major volumne thinking people who bought in the down trend would now be looking to exit thus putting a lid on the sp.


This is the daily chart. The price went straight past the first expected resistance and finished on the 2nd one. The huge volumne would suggest all stale holders have been absorbed however the size of the bar suggests a lot of effort (volumne) for little reward (share price rise). There are 2 gap ups and today is the 3rd day of the spike up, time to be wary, overnight shares in Vale increased so might affect FMG today, I don't know. I would expect some consolidation around this area but the market will decide that.
Have a good day, any comments welcome.