Market Verdict on Iron Ore： • Neutral. Macro • WTI reached $94.88/barrel, refreshed the high from the year 2014. LME Alumunium also created new high since the year 2008 previous Friday. • Russia and U.S. both retreated the withdraw diplomatic personal and related staff in Ukraine, expecting the tightened geo-political relations. • China Central Bank …
Author archives: Hao Pei
Iron Ore DCE May Daily Technical Review 11/2/22
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract fell fast after refreshing the high created from August 5th, creating a short-run roof area around 845.0- 849.0. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI corrected massively from overbought area. Iron ore potentially test …
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Iron Ore DCE May Daily Technical Review 10/2/22
Verdict – Short-term neutral. DCE iron ore May22 recovered major loss from previous two days, however with lower volume compared to previous two trading days. Hourly slow stochastic KD created a gold cross near oversold territory. Hourly MACD created a gold cross. Hourly CCI approached bullish territory. The first support is 800.0, the first resistance …
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Daily Virtual Steel Mill Report 10/2/22
Market Verdict on Iron Ore： • Neutral. Macro • The latest data released on Thursday is expected to show that US inflation is still at a decades high, but Fed officials are still hopeful that inflation will peak soon. The Federal Reserve Bank of Cleveland president Ben Meister said on Wednesday that the Fed will …
Iron Ore DCE May Daily Technical Review 8/2/22
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract retreated significantly during the last half hour with increasing volume. Hourly MACD created a dead cross. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI created bearish divergence with candles before the last trading hour. Iron ore potentially test low in …
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Daily Virtual Steel Mill Report 28/1/22
Market Verdict on Iron Ore： • Neutral. Macro • China National Bureau of Statistics: China will focuson increasing competitive advantage over the global environment, strengthening economy, decreasing tax and maintaining prices. • China National Bureau of Statistics: China above designated size enterprises realized industry profits at 8.7 trillion yuan, up 34.3% from the year 2020. …
Iron Ore DCE May Daily Technical Review 27/1/22
Verdict – Short-term neutral. DCE iron ore May22 contract refreshed new high created from August 31st, 2021 and corrected fast. The next trading day iron ore still need to test 777.0- 781.0 resistance area. If a rejection potentially lead to a taking gains effect both below the resistance as well as pre-holiday risk. Hourly slow …
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Daily Virtual Steel Mill Report 26/1/22
Market Verdict on Iron Ore： • Neutral. Macro • At a news conference in Brussels, NATO Secretary General Stoltenberg said that NATO had handed over its “written proposal” to Russia, which was carried out simultaneously with the United States. Stoltenberg did not disclose the specific content of the written proposal. NATO believed that there should …
Iron Ore DCE May Daily Technical Review 26/1/22
Verdict – Short-term neutral. DCE iron ore May22 contract tested high several times however rejected by previous high at 777.0. A breakthrough and closing above 777.0 would indicate a continuous growth in mid-run. Otherwise buyers should be aware of the cross Chinese Lunar New Year holding risk. Hourly CCI re-entered the bullish territory. Hourly MACD …
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Iron Ore DCE May Daily Technical Review 25/1/22
Verdict – Short-term neutral. DCE iron ore May22 contract rebounded in smaller volume. A continuous breakthrough on 771.5 and 777.0 with increasing volume would confirm the market return to bullish track. Otherwise iron ore potentially entered the last rebound before a mid-run correction phase. Hourly MACD created gold cross. Hourly slow stochastic KD created gold …
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