Rotuma

FMG approaches critical resistance around 16.90

ASX:FMG   FORTESCUE LTD
We might see some resistance around 16.90, a critical level as per previous trading activities. Share prices bounced from a strong support level at 15.75 but were challenged many times around 16.90 and could go through the same deal this time around.

I think the critical price levels to watch are at approximately 16.90 and 17.34. A break above 17.34 could see prices head towards a short term target at 18.50.
The critical support levels are at 16.63, 16.20, and 15.75. Resistance at 16.90, 17.35, 17.61, 18.05, and 18.50.

The current critical support and resistance estimates on the price chart are based on my indicator, predicting future price movements based on price action.


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