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Trade Idea: Fortescue Ltd (FMG) at $21.40 with initial stops at $19.70 , around 8% risk

by Matthew Snodgrass

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MM remains bearish towards the $US Dollar around 98

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MM remains bullish towards copper ~$US13,500/MT

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MM is cautiously bullish towards silver ~$US80

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MM remains bullish towards iron ore ~$US111

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MM is bearish towards December Brent Crude around $US87

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MM is cautiously bullish toward the Australian 3’s (yields lower) through 2026/7.

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MM is cautiously bullish toward the US and Australian 10’s (yields lower) through 2026/7.

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MM is bullish towards the MSCI AC Asia Pacific Index ~270

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MM remains bullish towards the S&P 500 around 7400

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