Mount Gibson Iron

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MGX: Over the last month there has been 3 trading days giving a confirmation ratio of 25%.

MGX: Over the last month there has been 3 trading days giving a confirmation ratio of 25%.

[BULLISH STRONG]: Mount Gibson Iron opened in the lower part of daily range at 0% & closed in the upper part of the trading range at 86.7%. This suggests the buyers were in control all day. Over the last 12 months there has been 3 trading days with the opening price in the lower shadow & the closing the price in the upper shadow giving a confirmation ratio of 1.1%. Over the last month there has been 3 trading days with the opening price in the lower price range & the closing the price in the upper price range giving a confirmation ratio of 25%.

Mount Gibson Iron: DeMark Pivot ($1.0488)

Mount Gibson Iron has broken the first DeMark resistance point ($1.0488) [Bullish]. Look for a long limit order entry near this point. Exit price for MGX should be set @$1.103 & Stoploss for Mount Gibson Iron should be set at $1.028

Mount Gibson Iron is no longer oversold

[NEUTRAL]: Mount Gibson Iron (ASX:MGX) current trading has closed out Commodity Channel Index to oversold status and signalled the initiation of normal trading conditions. Currently, the CCI is -73. The previous bullish signal was active for 0 day. During the quarter, the lowest CCI value was -184.

The biggest price range this month for MGX has been $0.2350

The biggest price range this month for MGX has been $0.2350

[BULLISH]: Mount Gibson Iron buyers are increasingly eager. There has been 2 consecutive days of range increase for MGX adding strength to an uptrend in the first timeframe. The biggest price range this month has been $0.2350 & the greatest daily price range this year has been $0.7950. The price range ratio this week versus the quarterly price range is 0.5x & the price range ratio this month versus the year to date price range is 0.3x.

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