FIS API Blog
Verdict – Short-term neutral to bullish. DCE iron ore September contract picked up during the last half-hour before closing. The high of day was slight lower than the import resistance level at 839.0. From hourly chart, MACD narrowed above 0 axis. Hourly CCI created lower highs from May 11th. Iron ore needs to breakthrough …
Continue reading “Iron Ore DCE September Daily Technical Review 16/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • China lowered the mortgage rate for homebuyers and announced a phased reopening of shops in Shanghai due this Monday. The China Central Bank PBOC on Sunday cut the lower-bound range of mortgage interest rates from 4.6% to 4.4%. • IEA expected that the global crude …
Verdict – Short-term neutral. DCE iron ore September contract as expected maintained a wide-range movement during the week. If a breakthrough on 839.0 with growing volume, iron ore will potentially enter an accelerated rebound phase. Otherwise, a breakdown on important level from 780.0 – 783.0 would indicate a return to bear. Hourly MACD created …
Continue reading “Iron Ore DCE September Daily Technical Review 13/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • The US Senate on Thursday approved Powell’s second four-year term as the chairman of Federal Reserve. Powell reiterated his expectation that the Fed would raise interest rates by 50 basis points in the next two FOMC meetings, and promised to take more actions if the …
Verdict – Short-term neutral. DCE iron ore September contract fell into the correction tunnel during the day. Hourly candles indicated that iron ore has created three lower highs and two lower lows from April 19th. If breaking through major support from 783.0- 800.0 area, iron ore potentially testing periodic low. Otherwise, iron ore would …
Continue reading “Iron Ore DCE September Daily Technical Review 12/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. April CPI up 8.3% y-o-y, narrowed from March at 8.5%. Core CPI up 6.2% y-o-y, higher than expected 6%. Iron Ore Key Indicators: • Platts62 $133.50, +5.40, MTD $136.78. Seaborne iron ores such as PBF saw several interests based on sales with discount. …
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”
