FIS API Blog
Verdict – Short-term neutral to bullish. DCE iron ore September contract filled the first gap after broke through the resistance at 735.5. Iron ore rebounded with significantly increased volume and open interest, indicating the reversal of a trend approaching. If breakthrough next gap resistance around 786.0, iron ore expected to accelerate rebound. The …
Continue reading “Iron Ore DCE September Daily Technical Review 05/07/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • Global June PMI 52.3, down 0.1 from May. U.S. PMI 56.1 down 3.1, lower than estimated 54.5. Euro Zone PMI 52.1, fell in estimation. U.K. PMI 52.8, refreshed new low from the June 2020. New emerging economies PMI 51.7, first time on mid …
Verdict – Short-term neutral to bearish. DCE iron ore September contract corrected during the day as expected from previous report. Iron ore created two gaps during the past three trading days. As a result, the current two resistance were consisted of the lower boundary of last two gaps. Hourly MACD narrowed below 0 axis. …
Continue reading “Iron Ore DCE September Daily Technical Review 04/07/22”
Market Verdict on Iron Ore： • Neutral. Macro • China 100 cities new built houses traded 28.37 million square meters in June, up 37% from May, down 34% on the year. The year-on-year growth slowed down. Iron Ore Key Indicators: • Platts62 $116.45, -3.65, Jul Avg $116.45. The physical July and August iron …
Verdict – Short-term neutral to bearish. DCE iron ore September contract corrected significantly during the day, the low of the day fell on the important resistance at 745.0, which was a Fibonacci number in range 698.5- 822.5. Hourly MACD widened below 0 axis. Hourly slow stochastic KD entered oversold area without seeing signs of …
Continue reading “Iron Ore DCE September Daily Technical Review 01/07/22”
Market Verdict on Iron Ore： • Neutral. Macro • Opec and Non-Opec oil production countries decided to increase 648,000 barrels of crude oil production in August. • Global central banks revealed that inflation control was the most important thing although the process potentially eliminate the economy growth. Iron Ore Key Indicators: • Platts62 …
China’s steel industry purchasing manager’s index for June hit its lowest level in over a decade, with the government’s pledge to go all-in on infrastructure spending to rescue the economy yet to register with producers. The steel PMI tumbled to 36.2, deep in contraction, with new orders plummeting to 25.9, according to official figures released …
Continue reading “China June Steel PMI Hits Decade Low Amid High Inventory 01/07/22”
Verdict – Short-term neutral to bullish. DCE iron ore September contract broke down important support at 790.0. Daily high was also resisted by previous resistance area arround 819.5- 822.5. Hourly MACD created dead cross. Hourly slow stochastic KD corrected after creating a dead cross in overbought area. Hourly CCI approached bearish territory. Technical signals …
Continue reading “Iron Ore DCE September Daily Technical Review 30/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • Reuters: a market source indicated that G7 has initiated talks with China and India regarding to the price ceiling on crude oil from Russia. • China June official PMI 50.2, est. 50.5, last 49.6. Iron Ore Key Indicators: • Platts 62%: $123.20 (-1.80) MTD …
China’s Top Coal Region Expands to Prevent Another Power Crunch China’s biggest coal-mining region will shoulder much of the increases in capacity demanded by the government to forestall another national power crisis. The northern province of Shanxi has pledged to add 107 million tons this year, over a third of the country’s target, which …
Continue reading “China’s Biggest Coal Region Raises Anuual Output To Ensure Power Supply 30/06/22”
