Monthly archives: June 2024

Iron Ore DCE Sep24 Daily Technical Review 13/06/24

Verdict- Neutral to Bullish. DCE Sep24 rebounded today, however saw pressure under R1 at 824.5. Hourly MACD widened above bullish territory. Hourly slow stochastic KD rebounded fast. A breakthrough on 824.5 potentially reverse iron ore market to bull again. Iron ore in short-run potentially test high in next session. First support 780.0. First resistance 824.5. …

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Daily Virtual Steel Mill Report 13/06/24

Verdict: • Short-run Neutral to Bullish.   Macro: • US Federal maintained unchanged for interest rate at 5.25-5.5%, fell into market expectations. However the recent matrix indicated that the probability of interest cut dropped from 3 times to 1 time in 2024. • On June 12th, the European Commission issued a statement proposing to impose …

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