FIS API Blog
Verdict – Short-term bullish. DCE iron ore May22 contract broke previous high at 717.5 and entered a fast growth tunnel. Hourly slow stochastic KD potentially create dead cross above overbought area. Hourly CCI potentially softened from bullish territory. Short-run technical were indicating an exhaustion temporarily, the sustained growth needs to comply with increasing volume and …
Continue reading “Iron Ore DCE May Daily Technical Review 12/1/22”
Verdict – Short-term neutral, testing breakthrough level on 725.5. DCE iron ore May22 contract rebounded significantly during the day, the high of the day fell around 725.5, which was a previous high from Oct 13th, 2o21. A test break on 725.5 would determine the short-run direction of the market. However major contract DCE May22 open …
Continue reading “Iron Ore DCE May Daily Technical Review 11/1/22”
Verdict – Short-term neutral. DCE iron ore May22 contract corrected during the day. The short-run rebound in the afternoon session was resisted by hourly neckline at 704.5. In mid-run 720-725.5 area created a major resistance area. A further breakdown on 693.0 level would reverse iron ore into bearish trend. CCI entered a neutral area from …
Continue reading “Iron Ore DCE May Daily Technical Review 10/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. December non-farm payrolls increased by 199,000 new jobs , est. 444,000, last 210,000. The statistic indicated that the Federal commission strengthen the expectation of unwinding the balance sheet and increasing interest rate. • China RCEP hit the ground on January 1st of the year 2022, …
Verdict – Short-term neutral. DCE iron ore May22 contract slowed and slight corrected during the day. As expected previously, iron ore tested and created high in mid-December, however lost the area during the first 10 minutes after market opened. The previous five-day trading volume was significantly low compared to any week of December. Hourly CCI …
Continue reading “Iron Ore DCE May Daily Technical Review 7/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • China Caixin December PMI 53.1, est. 51.7. Last 52.1. • China central bank PBOC: China financial system was generally stable. The lending rate for enterprises was below 5% in average, creating the new low historically. The Minister of Finance said the department will devoting in decrease …
Market Verdict on Iron Ore： • Neutral. Macro • In 2022, economists of some financial institutions in China generally believe that there are three main driving forces for promoting economic growth: investment in infrastructure construction is expected to rebound. Manufacturing investment is expected to continue to increase. Consumption is expected to continue to grow. • …
Verdict – Short-term neutral. DCE iron ore May22 contract moved up and down in narrow range during the day, however the trading volume was less than half day trading volume compared to previous two trading days. The intra-day high 696.5 became the first resistance. The daily low around 681.0 area also created a short-run support …
Continue reading “Iron Ore DCE May Daily Technical Review 5/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • China PM Li Keqiang held general political conference to delay some income tax incentives, equal to 1.1 trillion yuan of tax cut annually. • China proposed to increase the self-sufficiency by 35% in copper, 20% in aluminum. In addition, increase scrap ratio by 30% in steel …
Verdict – Short-term neutral to bullish. DCE iron ore May22 contract rebounded for three consecutive trading days. The trading volume was expanding if compared from session to session(only half trading days on Tuesday and previous Friday). Hourly slow stochastic KD approached the boundary of overbought area. Hourly CCI stayed in the bullish territory. Technical signals …
Continue reading “Iron Ore DCE May Daily Technical Review 4/1/22”
