Iron Ore DCE September Daily Technical Review 17/06/22

Verdict – Short-term bearish.   Iron ore corrected as expected, the low open created a gap from the low of yesterday, which become a mid-run resisting area. Iron ore refreshed the biggest single day correction since April 25th. Hourly MACD corrected below 0 axis. Hourly slow stochastic KD approached oversold area. Hourly CCI approached bearish …

Daily Virtual Steel Mill Report 17/06/22

Market Verdict on Iron Ore: • Neutral.   Macro • U.S. White House officials were discussing to restrict fuel oil export, to control petroleum price below $5/gallon. Russian PM revealed that Russia would not reduce oil production. • BOE increased interest rate by 25bp to 1.25%, refreshed the highest since January 2009. • China NDRC …