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Iron ore rallies after breaking out on strong volume, David Bird notes
David Bird, industry influencer, notes that iron ore prices have sharply broken out on the weekly chart, accompanied by significant trading volume.
This move comes as most macro and fundamental narratives continue to suggest a bearish outlook for iron ore, yet recent price action indicates changing momentum even as market sentiment remains negative.
Earlier this month, Bird outlined ASX trends and shared his watchlist ahead of May in an outlook for local stocks. He also detailed possible approaches to changing the 50% capital gains tax discount and assessed potential effects on investor sentiment in a policy analysis. These reports follow ongoing attention to shifts in Australian markets.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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