We evaluate the price development for the steel and raw material markets based on selected charts on a monthly basis. This is similar to the procedures used by chart analysers for the evaluation of the stock exchange markets. Advantages of such chart analyses are: The chart value / development of the chart contains all positive and negative information. Furthermore it shows the expectations of the participants in this market for the future.
Iron ore currently knows only one direction, tight and dynamic upwards. The next resistance is now close to USD 140.00, the last high from 2013.