FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract didn’t move significantly as expected yesterday. DCE iron ore expected to enter a small phase of correction observed by candles. Hourly slow stochastic KD gradually declined. Hourly CCI entered bearish territory. Hourly MACD deepened correction below 0 axis. Technical signals were indicating the correction …
Continue reading “Iron Ore DCE May Daily Technical Review 9/3/22”
Verdict – Short-term neutral. DCE iron ore May22 tested low and recover major loss, slight correct compared to the opening on night session. Hourly MACD potentially created gold cross. Hourly CCI was approaching bullish territory. Short-run neutral without seeing clear direction on DCE market. It is worth noticing that the gap yesterday was filled, which …
Continue reading “Iron Ore DCE May Daily Technical Review 8/3/22”
Verdict – Short-term neutral. DCE iron ore May22 maintained bullish during the day. However worth noticing that DCE aggregated open interest has lost 16.6% from the start of this round of rebound in Feb 28th. Previous cut loss sellers were major contributor of today’s market. Short-run support was close to the upper bound of a …
Continue reading “Iron Ore DCE May Daily Technical Review 7/3/22”
Market Verdict on Iron Ore： • Neutral. Macro • The weekends news about U.S. and European countries potential stop import Russian crude oils lifted NYMEX WTI price by 10% in Asian morning on Monday, WTI futures reached $130.5 as the highest of the day. • China government report mentioned expected to decrease deficit ratio from …
Verdict – Short-term in roof area, correction risk increased. DCE iron ore May22 rebounded slightly and majorly correct most of gains back during the Asian day session. DCE iron ore created the consecutive long upper shadow, with massive decrease on open interests, indicating a temporary taking gains in roof area. Hourly MACD created dead cross. …
Continue reading “Iron Ore DCE May Daily Technical Review 4/3/22”
Verdict – Short-term bullish. DCE iron ore May22 rebounded as previous expectation over the last two trading days. However hourly MACD flattened. Hourly slow stochastic KD also flattened. Daily MACD potententially create gold cross. Short-run technical signals are indicating a rebound in continuance. The first support is 732.5, the first resistance is 763.5
Verdict – Short-term neutral to bullish. DCE iron ore May22 rebounded significantly during the day and breakthrough major resistance. Hourly MACD expanded above 0 axis. Hourly slow stochastic KD entered a bullish territory and potential create gold cross. Technical signals were indicating a potential to test high. However be aware of the decreasing open interest. …
Continue reading “Iron Ore DCE May Daily Technical Review 1/3/22”
Verdict – Short-term neutral. DCE iron ore May22 rebounded during the day however still resisted by major resistance around 718.5 area. Iron ore was rejected by this level several times from February 21st. If a breakdown on 655.0 area would bring market back to bearish. Technical was indicating a neutral sentiment. The first support is …
Continue reading “Iron Ore DCE May Daily Technical Review 28/2/22”
Market Verdict on Iron Ore： • Neutral. Macro • The warfare between Russia and Ukraine blocked the transportation on eastern Europe areas and ports in Black Sea. Ships clearance and safety were both in great concerns. Supply on bulk commodities regionally impacted Eastern Europe areas. • China NDRC and Market Supervision Bureau started joint research …
Verdict – Short-term bearish. DCE iron ore May22 created a big correction during the day. As expected in the last report, iron ore was only weak rebound and re-entered the bearish tunnel. However the long lower shadow line on the daily candle indicated an exhaustion with an increasing volume. Hourly slow stochastic KD created gold …
Continue reading “Iron Ore DCE May Daily Technical Review 25/2/22”
