FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract corrected following the big correction of Shanghai equities and major industrial commodities. Iron ore was resisted twice over the past two trading days at 696.5- 698.5 area. If iron ore broke the 670.0 – 672.0 area, it potentially deepen correction to 645.0 area and …
Continue reading “Iron Ore DCE May Daily Technical Review 20/12/21”
Market Verdict on Iron Ore： • Neutral. Macro • After experienced the super central bank week, BOE started the first round of interest rate raise. ECB increased asset purchase plan. Russia announced the seventh interest rate increase of the year. Other new emerging market countries also announced interest rate raise. However major economies in Asia …
Verdict – Short-term neutral. DCE iron ore May22 contract pushed high in night session however gave back all gains in the following day session with increasing volume compared to last trading day, indicating a potential divergence on the market sentiments. Hourly slow stochastic KD created dead cross below overbought boundary. Hourly CCI fell fast from …
Continue reading “Iron Ore DCE May Daily Technical Review 17/12/21”
Market Verdict on Iron Ore： • Neutral. Macro • The Bank of England unexpectedly raised interest rates by 15 basis points in borrowing costs for the first time in the current three years, due to a concerns over pandemic and the highest inflation for the past decade. • From December 15th, China central bank PBOC …
Verdict – Short-term neutral. DCE iron ore May22 contract created big rebound during the day, however rejected by 675.0-677.0 area by the third time. Iron ore in short-run was close to the end of an ascending triangle pattern. A further rejection on major resistance would exhaust the motive of rebound and bring iron ore back …
Continue reading “Iron Ore DCE May Daily Technical Review 16/12/21”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. FOMC decided maintain the interest rate range at 0-0.25%, which fell in the expectation of market. Federal accelerate the Taper and decrease 30 billion U.S. dollars equivalent debt purchases each month, previous decrease by 150 billion dollars. The FOMC matrix indicated that commissioners expected three …
Verdict – Short-term neutral. DCE iron ore May22 contract started weak consolidation during the day. Hourly CCI retreated approaching bearish territory. 676.0 -677.0 created a significant strong resistance. First support 645.5 was a weak support. According to Elliot wave, iron ore hourly chart didn’t successfully completed a wave 4. Technical signals were indicating a neutral …
Continue reading “Iron Ore DCE May Daily Technical Review 15/12/21”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. November PPI up 0.8% m-o-m, created a seven-month high. Est. up 0.5%. Last up 0.6%. • China NDRC and MIIT departments published documents to supervise commodities price movement, to increase supply on upstream commodities and utilise national reserve. Iron Ore Key Indicators: • Platts 62 …
Verdict – Short-term neutral to bullish. DCE iron ore May22 contract created the biggest single day increase over the past four trading days however rejected by major resistance at 676.0 area. Iron ore market potentially test high and break 676.0, price movement expected to accelerate after the breakthrough. Hourly slow stochastic KD approached overbought area. …
Continue reading “Iron Ore DCE May Daily Technical Review 13/12/21”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • S&P 500 have created the biggest single week growth in percentage since February 5th, 2021. Market recovered sentiments and inflation statistic fell in expectation range. • China political conference during weekends revealed positive signals on stablising infrastructure demand, which stimulate the industrial commodities pushing …
