Monthly archives: April 2024

Iron Ore DCE Sep24 Daily Technical Review 03/04/24

Verdict- Neutral. DCE Sep24 contract corrected significantly, indicating a taking gains sentiment before China Qingming holiday. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI entered bearish territory. A support near 728.0 would potentially bring market back to rebound. The intra-day high was resisted around 780.0. Thus, …

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Daily Virtual Steel Mill Report 03/04/24

Verdict: • Short-run Neutral.   Macro: • US Federal Governor Loretta Mester indicated that it is less likely to see interest cut in or before May, however possible in June. Mester expected three interest cut in 2024.   Iron Ore Key Indicators: • Platts62 $102.25, -0.25, MTD $102.38. The market saw active trade before China …

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