Actually, I don't think iron ore glimmers. But when I checked the iron ore chart this afternoon, I thought I saw a glimmer of hope. Maybe its just Friday afternoon optimism but this might be worth keeping an eye on next week. I'll keep readers posted if  this little trend break develops

Iron Ore Chart

Iron Ore chart Dalian active contract Source: Bloomberg Iron Ore chart
Dalian active contract
Source: Bloomberg

This is today's Dalian futures iron ore chart. Today's candle has retreated from its high. Even so, it's broken the trend line and moved through the early June low. A strong move through the 20 day moving average next week might start to make this more interesting.