A Room with a Technical View 16/05/22

Capesize June Futures – Last week we noted that the RSI on the 4-hour chart had produced a negative divergence, warning of the potential for a momentum slowdown, with downside moves below USD 36,500 indicating the futures had entered a corrective phase. We also noted that any corrective move lower had the potential to be …

Iron Ore DCE September Daily Technical Review 16/05/22

Verdict – Short-term neutral to bullish.   DCE iron ore September contract picked up during the last half-hour before closing. The high of day was slight lower than the import resistance level at 839.0. From hourly chart, MACD narrowed above 0 axis. Hourly CCI created lower highs from May 11th. Iron ore needs to breakthrough …