HomeHome SearchSearch MenuMenu Our productsOur products

The biggest prediction I've ever made for Iron Ore

by , 23 September 2020
The biggest prediction I've ever made for Iron Ore
Iron Ore has just broken up and out of a six year sideways pattern.

And I have some amazing trading opportunities I think you're going to like.

We'll go through the reasons pointing to an iron ore rally over 68! and how we can profit from this next rise…

________________________________________
 
Industry growth research firm IHS Markit predicts $12.3 trillion in revenues from this newest growth industry
 
This industry is about to go into orbit…
 
Research firm Markit estimates this $1.3 billion industry will explode in revenue into $12.3 trillion.
 
$12.3 trillion!
 
To put that into perspective... That’s 24 times more money than Walmart makes in a year.
 
And 45 times more than Apple. In fact, it’s 11 times more revenue than Amazon has made in its enture existence.
 
It’s no wonder Forbes called it the “Holy Grail”. And MIT Technology Review claimed it will bring about a “technological paradigm shift similar to the jump from the typewriter to the computer.”
 
If you would like to find out what this this opportunity is, go here!
 
________________________________________
 
Iron Ore and what you need to know
 
Did you know that Iron Ore (Fe) is mined around 50 countries world wide.
 
It is used to make steel (buildings, cars, equipment etc…).
 
And the main thing that drives up the price for iron ore boils down to global economic growth through demand & supply.
 
And right now demand is outperforming its supply!
 
How China is helping with the iron ore rally
 
Last week, we saw iron ore prices hit six and a half year highs.
 
This was due to the Chinese showing levels of massive manufacturing, factory and construction activity that was last seen almost a decade ago.
 
You see, they have manageed to inject hundreds of billions of dollars of fiscal stimulus into infrastructure.
 
In the last three months China’s imports have gone up 20% year on year. This is up 11% compared to 2019.
 
 
 
In fact, in August alone their imports were the third highest on record.
 
And as the demand for steel picks up, we will continue to see iron ore prices hitting new highs.
 
Brazil welcomes blockchain technology which will boost the iron ore price
 
In the second quarter of 2020, Brazilian mining companies reached a 9% increase in production value compared to Q1.
 
And Brazil’s iron ore exports – which represents 59% - of the country’s mineral production totaled $5 billion (6% higher in Q2 than in Q1).
 
And that’s just the start…
 
Because Brazilian iron-ore company – Vale – is now incorporating blockchain technology.
 
I don’t want to go into too much detail.
 
Basically, the letter of credit was issued through Contour blockchain platform. And the shipping documents and electronic bill were handled through essDOCs CargoDocs Solution.
 
All you need to know is that Vale has made their first blockchain sale. And the transaction was supported from the DBS Bank and Standard Chartered Bank Malaysia Berhad.
 
The company said
 
“It is an important milestone towards the digitalisation of the sales and trade process, bringing innovation to the traditional paper-intensive trade transactions and offering a better service to the clients, as well as predictability in the steel value chain.”
 
So going forward, it looks like there’ll be a bright and profitable future for this dim metal. 
 
And this pattern confirms the upside to come…
 
________________________________________
 
These three cryptos are set to ride the next crypto wave
 
There are three cryptos that I believe will form the foundation of the next phase of the crypto revolution!
 
The first crypto king – one of three cryptos I want to share with you today…has massive potential!
 
…This crypto speeds up networks where most slow them down.
 
…This crypto has zero transaction fees
 
…And it has the Blockchain 50 as its customer!
 
It’s set out to be the protocol standard for machine-to-machine transactions, infinitely scalable, this crypto king will enable the Internet of Things (IoT) to cope with the mass of data that is being created.
 
________________________________________
 
Why this Cup of T formation shows a 68% rally for iron ore
 
 
In this chart analysis, we’re looking at iron ore’s daily price chart.
 
We can clearly see that since 2014, it’s been moving in a consolidation (sideways pattern) between $127.50 and $40.
 
During this time, it has been forming a six and a half year breakout pattern – Cup and Handle or what I call a Cup of T.
 
This is a pattern that has three characteristics:
 
1. A big rounding bottom (cup)
 
2. A small rounding bottom (handle)
 
3. A brim level (Ceiling level) Which in this case is at $127.50
 
But as of last week, the price has broken up and above the formation. This tells us that the buyers are dominating the market and we can expect further upside to come.
 
To calculate the price target, we’ll simply use the High-Low calculation.
 
We will take the difference between the high and the low prices of the formation and add it to the high price.
 
Here’s the price target for iron ore…
 
Price target = (High – low) + High
                  = ($127.50 - $40) + $127.50
                  = $215
 
Here’s how we’ll profit from the 68% iron ore rally
 
First, I’ll be scouring the steel markets on the JSE and will be sending buy trade ideas via Red Hot Storm Trader.
 
And second, Joshua Benton – analyst for Real Wealth – told me he’ll also be writing about the iron ore rally and how to take advantage from the price rise.
 
 
Trade well,
  
Timon Rossolimos
Analyst, Red Hot Storm Trader


The biggest prediction I've ever made for Iron Ore
Rate this article    
Note: 3.83 of 3 votes

Related articles



Related articles




Trending Topics