Iron Ore DCE Jan27 Daily Technical Review 30/08/24

Verdict- Neutral. DCE iron ore corrected during the day. Iron ore was traded in 747.5- 767.5 range during past four trading days. Hourly MACD widened in bearish territory. Hourly CCI moved from neutral area to bearish territory. A breakthrough on either upper side of lower side of the rangebox would initiate a directional movement. Otherwise …

Daily Virtual Steel Mill Report 30/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • US jobless claims past week reached 231,000, est. 232,000, last 232,000.   Iron Ore Key Indicators: • Platts62 $101.25, +0.80, MTD $98.63. There were many fixed trades and premium concentrates traded during this week, indicating a strong restocking. Thus, price gained support from current level. MACF …