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Need 4 Speed - ASX Report - 12/10/22

ASX Trading

G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst! 

For real-time up-to-date data/news/research/ideas/strategies, check out our insights panel on the CMC Markets NextGen platform and follow us on Twitter: 

Azeem Sheriff -  
CMC Markets - 

Trading Idea of the Day

ASX:FMG - Fortescue Metals Group - BEARISH BIAS

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Iron ore shipments have been dropping to China week on week, as China's property crisis continues and demand for iron ore reduces.

  • China's 0 COVID policy has not helped as well, with Shanghai looking to go back into lockdown after multiple cases identified, which can severely limit any property development projects in play.

  • Expecting FMG to move further lower to price of 14 which is next key support zone.

ASX & Economic Key Events

ASX Key Events Calendar (TODAY)

Economic Key Events (TODAY)

Economic Key Events (YESTERDAY)

OPTO For Investors Research

Article of the Day: Sprott Gold Miners ETF struggles as gold prices drop
Podcast of the Day: Tidal Financial CIO Michael Venuto on the ETF industry

APAC Daily Report

Market Snapshot & Highlights as of 8am AEST

EXPECTATIONS: Energy LOWER (lower oil) & Materials LOWER on overall lower base metal prices.

Global Markets Headlines

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)


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