Iron Ore DCE January Daily Technical Review 22/11/22

Verdict – Short-term neutral. DCE iron ore January contract corrected significantly in the afternoon. In short-run iron ore reached a neckline area at 725.0- 727.0 level, a breakdown on this area would initiate a potential drop targeting 697.0-700.0 area. Iron ore entered oversold area from hourly CCI. Hourly MACD widened below 0 axis. The first …

Daily Virtual Steel Mill Report 21/11/22

Market Verdict on Iron Ore: • Neutral.   Macro: • Multiple Chinese departments indicated that to support housing development and resolve financing and restructures. • U.S. houses sales decreased for nine month consecutively, however house price up 128 months consecutively. The 30-year mortgage rate reached 20-year-high.   Iron Ore Key Indicators: • Platts62 $96.25, -2.85, …