FIS API Blog
Verdict – Short-term neutral. DCE iron ore May22 contract rebounded in smaller volume. A continuous breakthrough on 771.5 and 777.0 with increasing volume would confirm the market return to bullish track. Otherwise iron ore potentially entered the last rebound before a mid-run correction phase. Hourly MACD created gold cross. Hourly slow stochastic KD created gold …
Continue reading “Iron Ore DCE May Daily Technical Review 25/1/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro • US Treasury Secretary Yellen said that inflation is expected to remain above 2% in 2022. There are many uncertainties about inflation. Over time, the inflation rate is expected to decline this year. • U. S. initial jobless claims increased from 231,000 to 286,000 last …
Verdict – Short-term neutral, be aware of top reversal. DCE iron ore May22 contract rejected by 748.5 for the second day with smaller volume. Maintain neutral comment, however be aware of market reversal. Short-run iron ore created a gap from 718.5 – 732.0, which was a strong support. Hourly MACD flattened. Hourly slow stochastic KD …
Continue reading “Iron Ore DCE May Daily Technical Review 20/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • China central bank decreased the one year Loan Prime Rate from 3.8% to 3.7%, the second month decrease. Five Year Loan Prime Rate decreased from 4.65% to 4.6%, previously this rate was fixed for 2o consecutive months. • U.K. December 2021 CPI up 5.4%, created the …
Verdict – Short-term neutral, be aware of top reversal. DCE iron ore May22 contract yet to test high in 741.5. If a failure to reach this level, iron ore would confirm periodic high at 748.5 and potentially enter a correction phase. A breakthrough on 741.5 would increase chances to refresh new high and bring the …
Continue reading “Iron Ore DCE May Daily Technical Review 19/1/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro • China central bank held a conference to decrease the deposit reserve ratio, maintain leverage ratio, decrease Loan Prime Rate, and increase fulfillment of local debts. • U.S. New York January PMI fell from 31.9 to -0.7, est. 25, the unexpected negative number was first …
Verdict – Short-term bearish. DCE iron ore May22 corrected weakly during the day. The daily support fell on 713.0 – 714.0. Hourly MACD deepened correction. Hourly slow stochastic KD approached oversold area. Hourly CCI consolidated near bearish territory. Short-run correction if seeing lower lows and highs. The first support is 693.0, the first resistance is …
Continue reading “Iron Ore DCE May Daily Technical Review 14/1/22”
Daily Virtual Steel Mill Report 14/1/22 Market Verdict on Iron Ore： • Neutral to bearish. Macro • U.S. Federal official Harker indicated that the Federal potentially increase interest rate by 25 basis points after decreasing the debt purchase in March. • Chinese Academy of Science estimated that China GDP growth rate in the year 2022 …
Verdict – Short-term bearish. DCE iron ore May22 contracted gave back all gains created overnight during the afternoon. If a breakdown on 722.0 during the day, iron ore potentially will accelerate the correction. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross on overbought area. Hourly CCI corrected from bullish territory to …
Continue reading “Iron Ore DCE May Daily Technical Review 13/1/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro • U.S. December CPI up 7% y-o-y, created the highest since June, 1982. DXY corrected massively from 95.61 to 94.9, which supported U.S. dollar linked commodities and triggered a big rebound shortly across commodity sector. Iron Ore Key Indicators: • Platts62 $131.60, +3.00, MTD $126.12. …
