Market Verdict on Iron Ore： • Neutral. Macro • BOE raised interest rate by 25 basis point to 0.75% as expected. The lending cost recovered to pre-pandemic level. Q2 inflation rate raise from 7.25% to 8%. • China Ministry of Industry and Information Technology: promote more strategies to support stablised economy growth. Become prudent on …
Author archives: Hao Pei
Iron Ore DCE May Daily Technical Review 17/03/22
Verdict – Short-term neutral. DCE iron ore May22 contract extended growth as expected yesterday. However the close was almost flat to the high open. DCE iron ore apparently entered a small round of consolidation, major trading area concentrated between 795.0 – 810.0 area. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD potentially …
Continue reading “Iron Ore DCE May Daily Technical Review 17/03/22”
Daily Virtual Steel Mill Report 17/3/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • As expected, the Federal Open Market Committee (FOMC) of the Federal Reserve raised the federal benchmark interest rate range by 25 basis points to 0.25% – 0.50%, the first interest rate increase since December 2018. Fed officials expect interest rates to reach 1.9% by …
Iron Ore DCE May Daily Technical Review 16/3/22
Verdict – Short-term neutral bullish. DCE iron ore May22 contract recovered major loss over the previous two days following the sentiment of China equities spike. Hourly MACD created gold cross during day session. Hourly slow stochastic KD created gold cross near oversold area in last evening. Technical signals are indicating a recovery in continuance. The …
Continue reading “Iron Ore DCE May Daily Technical Review 16/3/22”
Iron Ore DCE May Daily Technical Review 15/3/22
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract corrected massively and entered a bearish trend. Hourly MACD widened below 0 axis. Hourly slow stochastic KD widened after a dead cross. Hourly CCI entered a bearish territory. Hourly and daily candles created a roof area and indicating the start of a correction in …
Continue reading “Iron Ore DCE May Daily Technical Review 15/3/22”
Daily Virtual Steel Mill Report 15/3/22
Market Verdict on Iron Ore： · Neutral. Macro · U.S. Five-Year Treasury Bond up 6 basis point yesterday and breakthrough 2% first time for the previous six years. Ten-Year Treasury bond also reached 2.05%. Forex traders believed that there would be seven interest rate increase for the year 2022 and expected 80% possibility for interest …
Iron Ore DCE May Daily Technical Review 14/3/22
Verdict – Short-term bearish. DCE iron ore May22 contract corrected massively and entered a bearish trend. Hourly MACD widened below 0 axis. Hourly slow stochastic KD widened after a dead cross. Hourly CCI entered a bearish territory. Hourly and daily candles created a roof area and indicating the start of a correction in mid-run. The …
Continue reading “Iron Ore DCE May Daily Technical Review 14/3/22”
Daily Virtual Steel Mill Report 14/3/22
Market Verdict on Iron Ore： · Neutral to bearish. Macro · As the Chinese domestic financial data in February exceeded expectations, the further monetary ease was expected in the near future. · A member of the Russian delegation to the Russia Ukraine negotiations, said that “substantial progress” had been made in the negotiations with Ukraine. …
Iron Ore DCE May Daily Technical Review 11/3/22
Verdict – Short-term neutral. DCE iron ore May22 contract maintained wide range movement during the day and closed slight high compared to yesterday. Hourly MACD narrowed in bearish area. Hourly candles entered a triangle area. Technical signals are indicating a neutral sentiment in short-run. The first support is 800.0, the first resistance is 838.0
Iron Ore DCE May Daily Technical Review 10/3/22
Verdict – Short-term neutral. DCE iron ore May22 contract firstly opened low as expected. Iron ore also tested low during the market, however recover major losses during the day session. Hourly slow stochastic KD narrowed below 0 axis. Hourly slow stochastic KD created gold cross near oversold area. A hold on 773.5 in short-run would …
Continue reading “Iron Ore DCE May Daily Technical Review 10/3/22”