FIS API Blog
Verdict – Short-term neutral. DCE iron ore September contract rebounded and ended the previous correction after broke through the important resistance at 783.0 and made it to a support. The 783.0 level has been support and resistance level for many times. Hourly MACD created gold cross. Slow stochastic KD rebounded significantly. Hourly CCI reached …
Continue reading “Iron Ore DCE September Daily Technical Review 11/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • Biden said White House could drop Trump Tariffs on China started in 2018 to lower consumer prices and fight inflation in U.S. • China NDRC and other four departments jointly sent notice to lower the enterprise cost in 2022 and strengthen commodity market supervision. • …
Verdict – Short-term neutral to bearish. DCE iron ore September contract corrected as expected. Iron ore tested resistance of 783.0, however rejected. Hourly slow stochastic KD created gold cross in oversold area, however the KD has yet left oversold area. Hourly MACD narrowed below 0 axis. Hourly CCI created bullish divergence with price. Technical …
Continue reading “Iron Ore DCE September Daily Technical Review 10/05/22”
Verdict – Short-term neutral to bearish. DCE iron ore September contract tanked during the first few minutes this morning however resisted by 796.0- 800.0 area. Hour CCI rebounded from bearish territory temproraly to a neutral area. Hourly slow stochastic KD potentially create gold cross in oversold area. New sellers built positions in iron ore …
Continue reading “Iron Ore DCE September Daily Technical Review 09/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • Shanghai: the first batch of “white list” for the resumption of work and production has been announced. CATL, leading battery maker of China indicated that Shanghai factory had resumed 90% of work force. The production capacity has returned to the pre-epidemic level. The factory planed …
Verdict – Short-term neutral to bearish. DCE iron ore September contract tested important resistance level in 883.0- 884.5, rejected and corrected massively after then. As a result, 883.0 – 884.5 was still a major resistance area for iron ore. It is worth noting that iron ore aggregated open interest increased by 5% during the …
Continue reading “Iron Ore DCE September Daily Technical Review 06/05/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • BOE increased interest rate by 25 basis points to 1% as expected, which was the fourth increase from last December. BOE base interest rate reached the highest over the last 13 years. • China Transportation Department announced that the high way tolls and …
Verdict – Short-term neutral. DCE iron ore September contract created consecutive five-day increase from April 26th. However the trading volume hasn’t seen any improvement over the previous five trading days. In addition, the intra-day high was resisted by the high created on April 25th, when market created the biggest single-day decrease since February 15th. …
Continue reading “Iron Ore DCE September Daily Technical Review 05/05/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • U.S. trade representative Katherine Tai said on Monday that U.S. would consider using all tools to fight inflation, including reducing tariffs on Chinese exports. • European Commission President Ursula von der Leyen said that the EU would completely ban oil imports from Russia …
Verdict – Short-term neutral. DCE iron ore September contract created a four-day consecutive increase, however the trading volume and open interest decreased significantly. Traders were cautious before the China and Singapore Labour Day. Hourly slow stochastic KD maintained a healthy growth in overbought area. Hourly CCI hold on bullish territory. An effective breakthrough on the …
Continue reading “Iron Ore DCE September Daily Technical Review 29/4/22”
