Monthly archives: February 2024

Iron Ore DCE May24 Daily Technical Review 23/02/24

Verdict- Neutral. DCE May24 contract temporarily ended the fast drop during the past two trading days. Hourly MACD widened in bullish area. Hourly CCI was rejected by bullish territory. Iron ore in short-run secured the area between 885.5- 915.0, however be aware of breakdown on 885.5 could bring market back to mid-run bearish trend. First …

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Daily Virtual Steel Mill Report 23/02/24

Verdict: • Short-run Neutral to Bearish.   Macro: • US jobless claims at 201,000, est. 216,000, last 212,000. • US Federal Reserve Patrick Harker stated that there should be no urgency to cut interest rates. The Fed’s focus is on the job market and economic data for the coming months, which will determine when the …

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