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Verdict – Short-term neutral to bearish. DCE iron ore January contract created a listed low during the day, however recovered some loss during the last trading hour. Hourly CCI left bearish territory. Hourly MACD potentially narrow. Hourly slow stochastic KD created gold cross in oversold area. Technical signals were indicating an oversold rebound, however in …
Continue reading “Iron Ore DCE Jan Daily Technical Review 16/9/21”
Market Verdict on Iron Ore： · Neutral to bearish. Macro · The United Nations issued the year 2021 World Trade Outlook, indicated China economy developed to counter against recession. The China economy boomed earlier than any other country after the pandemic. The China trade volume increased by 10% compared to last H1. Iron Ore Key …
Verdict – Short-term neutral to bearish. DCE iron ore January contract refreshed a listed low during the day. The mid-run bearish has yet changed. Rebound previously created entrance opportunities for new short investors. Both highs and lows were decreasing fast. Reversal was difficult unless a quick push back with significantly increased volume. The first support …
Continue reading “Iron Ore DCE Jan Daily Technical Review 15/9/21”
Market Verdict on Iron Ore： · Neutral to bearish. Macro · The United States recorded an annual rate of 5.3% without quarterly adjustment of CPI in August, in line with expectations. In August, the monthly rate of core CPI recorded 0.1%, the lowest since February this year. Analysts believed that this indicated inflation has peaked, …
Verdict – Short-term neutral. DCE iron ore January contract created a listed low during the day, however recover some of losses by the last hour. Hourly MACD flattened in bearish territory. Hourly CCI rebound from a 9-month low. The previous support level 717.5 has become a major resistance level. However the mid-run bearish has yet …
Continue reading “Iron Ore DCE Jan Daily Technical Review 13/9/21”
Verdict – Short-term neutral. DCE iron ore January contract correct slightly. As predicted yesterday, iron ore volatile range became narrower. Luckily the support on 717.5-719.5 was strong , which successfully witnessed a V-Shape reversal twice over the previous four trading days. Stochastic indicators were all flat in hourly level. Unless a breakdown on 717.5 -719.5 …
Continue reading “Iron Ore DCE Jan Daily Technical Review 9/9/21”
Market Verdict on Iron Ore： · Neutral. Macro · China National Development of Reform Comission: the H2 specialized local debts were issued significantly higher than previous year to stabilize the investment in infrastructure. The debts were proposed to issue earlier than expected. · New York Federal chairman Williams expected the year 2022 U.S. inflation rate …
Verdict – Short-term neutral. DCE iron ore January contract tested low and recover most of losses during the day. Iron ore expected to decrease volatile range int the coming two days with decreasing volume. Hourly slow stochastic KD deepened correction after creating a dead cross below overbought area. Hourly CCI slowly corrected. Technical signals were …
Continue reading “Iron Ore DCE Jan Daily Technical Review 8/9/21”
Market Verdict on Iron Ore： · Neutral to bearish. Macro · China Monetary Department official Sun Guofei said monetary supply was sufficient in the following months. There should be small chances to experience liquidity risk in the market. · U.K. Central Committee(MPC) Sanders indicated U.K. central bank potential to increase interest rate in next year. …
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