FIS API Blog
Verdict – Short-term neutral. DCE iron ore May22 contract re-entered into a consolidation range in short-run. After a spike at Friday night and a test low in Monday morning, iron ore finally closed near the open level at Friday night. May-Sep22 spread started to narrow, when major contract rolling started from last week. Front month …
Continue reading “Iron Ore DCE May Daily Technical Review 21/3/22”
Market Verdict on Iron Ore： • Neutral. Macro • China and U.S. held an internet conference during the tight worldwide political conditions in the first quarter of the year 2022. Although both countries have different views on the Russia-Ukraine war, however both countries thought the talk was “constructive” and mentioned to improve the cooperation …
Verdict – Short-term neutral. DCE iron ore May22 contract rebounded during the open over night session, however consolidate around 830.0 area for most of time in the day session. A breakthrough on 838.5 would indicate a new round of spike. Hourly CCI potentially drop from the bullish territory. Hourly slow stochastic KD flattened in an …
Continue reading “Iron Ore DCE May Daily Technical Review 18/3/22”
Market Verdict on Iron Ore： • Neutral. Macro • BOE raised interest rate by 25 basis point to 0.75% as expected. The lending cost recovered to pre-pandemic level. Q2 inflation rate raise from 7.25% to 8%. • China Ministry of Industry and Information Technology: promote more strategies to support stablised economy growth. Become prudent on …
Verdict – Short-term neutral. DCE iron ore May22 contract extended growth as expected yesterday. However the close was almost flat to the high open. DCE iron ore apparently entered a small round of consolidation, major trading area concentrated between 795.0 – 810.0 area. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD potentially …
Continue reading “Iron Ore DCE May Daily Technical Review 17/03/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • As expected, the Federal Open Market Committee (FOMC) of the Federal Reserve raised the federal benchmark interest rate range by 25 basis points to 0.25% – 0.50%, the first interest rate increase since December 2018. Fed officials expect interest rates to reach 1.9% by …
Verdict – Short-term neutral bullish. DCE iron ore May22 contract recovered major loss over the previous two days following the sentiment of China equities spike. Hourly MACD created gold cross during day session. Hourly slow stochastic KD created gold cross near oversold area in last evening. Technical signals are indicating a recovery in continuance. The …
Continue reading “Iron Ore DCE May Daily Technical Review 16/3/22”
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract corrected massively and entered a bearish trend. Hourly MACD widened below 0 axis. Hourly slow stochastic KD widened after a dead cross. Hourly CCI entered a bearish territory. Hourly and daily candles created a roof area and indicating the start of a correction in …
Continue reading “Iron Ore DCE May Daily Technical Review 15/3/22”
Market Verdict on Iron Ore： · Neutral. Macro · U.S. Five-Year Treasury Bond up 6 basis point yesterday and breakthrough 2% first time for the previous six years. Ten-Year Treasury bond also reached 2.05%. Forex traders believed that there would be seven interest rate increase for the year 2022 and expected 80% possibility for interest …
Verdict – Short-term bearish. DCE iron ore May22 contract corrected massively and entered a bearish trend. Hourly MACD widened below 0 axis. Hourly slow stochastic KD widened after a dead cross. Hourly CCI entered a bearish territory. Hourly and daily candles created a roof area and indicating the start of a correction in mid-run. The …
Continue reading “Iron Ore DCE May Daily Technical Review 14/3/22”
