Iluka Resources (ILU)

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Iluka Resources (ILU): Signals

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TECHNICAL ANALYSIS SUMMARY

Iluka Resources (ILU.AX)


Indicator:

FIBONACCI FANS


Signal Strength: MEDIUM
Recommendation:

Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading position.


Iluka Resources (ASX:ILU) : The current Fibonacci Fan levels are:
(23.61%) $13.57
: (38.2%) $13.94
: (50%) $14.25
: (61.8%) $14.54

The current support levels are:
(78.6%) $14.98
(100%) $15.52
(138.2%) $16.51
(161.8%) $17.1
(261.8%) $19.67
(423.61%) $23.83



Fibonacci Fan lines are trend lines based on Fibonacci retracement points. Rising fan lines extend up from a trough and pass through retracement based on the advance (trough to peak). These fan lines can then be used to estimate support levels or potential reversal zones. Falling fan lines extend down from a peak and pass through retracements based on the decline (peak to trough). These fan lines can then be used to estimate resistance levels or potential reversal zones. This article will explain the Fibonacci ratios and provide examples using Fibonacci Fans to project support and resistance.

Calculation: Fibonacci Fans:
1) Uptrend Fan line 1: Drawn from extreme low through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme low through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme low through 50% retracement level on “invisible” vertical line Fan line;
c) Drawn from extreme low through 61.8% retracement level on “invisible” line;
2)Downtrend Fan line 1: Drawn from extreme high through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme high through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme high through 50% low retracement level on “invisible” vertical line;
c) Fan line 4: Drawn from extreme high through 61.8% retracement level on “invisible” vertical line;


PROFILE: Iluka Resources (ILU.AX)


Stock Exchange: ASX
Company: Iluka Resources
Ticker Codes: | ILU.AX | ASX:ILU |

About Iluka Resources (ASX:ILU):

Iluka Resources Limited engages in the exploration, project development, mining, processing, and marketing of mineral sands. The company operates through Australia, Sierra Rutile, United States, and Mining Area C segments. It produces zircon; titanium dioxide products of rutile and synthetic rutile; and ilmenite, as well as activated carbon and iron concentrate products. The company's products are used in home, workplace, medical, lifestyle, and industrial applications. It has operations in China, rest of Asia, Europe, the Americas, and internationally. The company was formerly known as Westralian Sands Limited and changed its name to Iluka Resources Limited in May 1999. Iluka Resources Limited was founded in 1954 and is based in Perth, Australia.

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