Monthly archives: September 2023

Iron Ore DCE January 24 Daily Technical Review 15/09/23

Verdict- Neutral to Bullish. DCE Jan24 contract broke important resistance at 866.5, which became an important support in short-run. Hourly MACD widened in bullish territory. Hourly CCI approached the boundary of neutral and bullish area. Hourly slow stochastic KD entered overbought area. First support 866.5. First resistance 900.0.  

Daily Virtual Steel Mill Report 15/09/23

Verdict: • Short-run Neutral to Bullish.   Macro: • China announced reserve requirement ratio cut by 0.25% to consolidate the foundation for economy recovery. The reduction is the second RRR cut during 2023, expected to release over 500 billion yuan in medium liquidity.   Iron Ore Key Indicators: • Platts62 $123.95, +1.45, MTD $120.11. The …

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