Monthly archives: August 2024

Iron Ore DCE Jan25 Daily Technical Review 05/08/24

Verdict- Neutral to Bullish. DCE iron ore tested high however dragged by the weak Asian equities during afternoon session. Daily slow stochastic created gold cross in oversold area from last Wednesday. Daily MACD created gold cross today. Iron ore should have upside room in mid-run. From hourly chart, MACD widened in bullish territory. Hourly candles …

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Daily Virtual Steel Mill Report 05/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • US jobless rate up by 4.3% in July, refreshed three-year-high, strengthening the concerns on recession. US Labor Department published non-farm payrolls increased by 114,000 in July, est. 175,000. The expectation on interest cut increased after traders saw these data. • According to a Reuters survey, the …

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