Fortescue Metals

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Open/close reversal confirmed for Fortescue Metals  signalling the buyers have lost control

Open/close reversal confirmed for Fortescue Metals signalling the buyers have lost control

[BEARISH]: Fortescue Metals opened in the lower part of daily range at 26.7% & closed in the lower part of the trading range at 26.7%. This suggests the buyers have lost control. Over the last 12 months there has been 1 trading days with the opening price in the lower shadow & the closing the price in the lower shadow giving a confirmation ratio of 0.4%. Over the last month there has been 1 trading days with the opening price in the lower price range & the closing the price in the lower price range giving a confirmation ratio of 12.5%.

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Trading for Fortescue Metals  highlights the commitment of sellers to carry positions overnight.

Trading for Fortescue Metals highlights the commitment of sellers to carry positions overnight.

[BEARISH]: Fortescue Metals sellers in control. This is the first day of seller commitment for Fortescue Metals adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 1 trading day with the closing price in the lower part of the range giving a confirmation ratio of 0.4%. Over the last month there has been 1 trading day with the closing price in the lower range giving a confirmation ratio of 12.5%. Currently this quarter, closing price has spent 1 day in the lower price range compared to 4 days in the upper range giving a ratio of 0.3x.

CMF highlights continued positive divergence for Fortescue Metals

CMF highlights continued positive divergence for Fortescue Metals

[BULLISH]: Fortescue Metals current price has highlighted recent buying pressure and the continuation of a bullish trading conditions. Currently, the CMF is 0.32. Fortescue Metals (ASX:FMG) received a confirmed CMF crossover days on the Nov 1 2019. The bullish signal has been active for 0 day. During the quarter, the highest CMF value was 0.42 occurring on the Nov 1 2019.

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