Fundamentally i think the iron ore price is to high, however the rock drawings tell me a different story. Stochastics are oversold on the daily chart. There is a nice gap to be filled to the trop. Bottom of the support line. Swing trade with a short stop.
All good points. I agree the FE price is too high and will come down, but there is perhaps a swing trade here for the short term. Tight stops make for a worthwhile Risk reward. Maybe wait until after Jackson Hole though, things will get very volatile for $ & commods until that has all settles