FMG Fortescue on important resistance

The Australian iron ore miner has reached an important resistance. The next moves could be decisive for the near future of the stock. However, the recent drop in iron ore prices (see chart FEF1!) makes any predictions difficult.

FMG itself is - from my point of view - still fundamentally very interesting due to low debt, its investments into the future (autonomous, cero carbon, hydrogen) and inflationary politics from central banks.

Risks: China, iron ore prices, disasters