FIS API Blog
Verdict – Short-term neutral. DCE iron ore January gave back gains from previous day and still resisted by roof area from 745.0 – 755.0. In general the price movement remained in rangebound as expected. Trading volume was in similar amount during the past five trading days. Iron ore approached the neckline observed from 15 …
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Market Verdict on Iron Ore： • Neutral. Macro • U.S. July CPI up 8.5%, last 9.1%, est. 8.7%. China July CPI up 2.7 on the year, last 2.5%, est. 2.9%. • Chinese machinery sales in July turned from negative to positive, ended a negative number last for previous 14 months. Jan – Jul machinery …
Export duty under examination: Indian steel minister A 15pc export tax on steel imposed by the Indian government in May is being considered and examined by the country’s new steel minister, although no changes have been announced. “These [export tax removal proposals] are things that I am engaging myself on currently, we will …
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Verdict – Short-term neutral. DCE iron ore January contract created roof area from 745.0 – 755.0, as intra-day high rejected by this area. Thus, iron ore was still in bearish territory. Hourly slow stochastic KD created a bearish divergence with hourly candles movement. Hourly CCI returned to bullish territory. Short-run signals were indicating a …
Continue reading “Iron Ore DCE January Daily Technical Review 11/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. July CPI up 8.5%, last 9.1%, est. 8.7%. China July CPI up 2.7 on the year, last 2.5%, est. 2.9%. • Chinese machinery sales in July turned from negative to positive, ended a negative number last for previous 14 months. Jan – Jul machinery …
U.S. crude stocks up, output at highest level since April 2020 U.S. crude stocks rose in the most recent week while U.S. production hit its highest level since April 2020, a signal that high prices are driving further output in the world’s largest oil producer. Gasoline stocks fell sharply and demand rebounded modestly, though …
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Verdict – Short-term neutral. DCE iron ore January contract maintained neutral as expected, closed with a doji pattern. It is worth noticing that daily CCI and slow stochastic KD both created bearish divergence with iron ore price chart, which indicated that the current price was in testing mid-run bearish trend. However short-run signals were …
Continue reading “Iron Ore DCE January Daily Technical Review 10/08/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China NBS published July CPI annual rate up 2.7%, expand 0.2% compared with June, refreshed the highest since August 2020. PPI July up 4.2%, narrowed 1.9% compared with June, created consecutive decrease for nine months. Both numbers were lower than expectations. Iron …
Verdict – Short-term neutral. DCE iron ore January contract successfully broke through 745.0 level however corrected fast and gave back half gains created by yesterday. Market saw divergence views in near periodic high with expanding volume. Hourly slow stochastic KD created gold cross in overbought area. Hourly MACD created dead cross. Iron ore needs …
Continue reading “Iron Ore DCE January Daily Technical Review 09/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. New York Federal survey indicated that the future three-year inflation expectation fell from 3.6% to 3.2%. Iron Ore Key Indicators: • Platts62 $108.80, +1.85, MTD $108.98. The term contract discounts for FMG in August widened in August, however market participants indicated that the …
