FIS API Blog
Verdict – Short-term neutral. DCE iron ore May22 rebounded during the day however still resisted by major resistance around 718.5 area. Iron ore was rejected by this level several times from February 21st. If a breakdown on 655.0 area would bring market back to bearish. Technical was indicating a neutral sentiment. The first support is …
Continue reading “Iron Ore DCE May Daily Technical Review 28/2/22”
Market Verdict on Iron Ore： • Neutral. Macro • The warfare between Russia and Ukraine blocked the transportation on eastern Europe areas and ports in Black Sea. Ships clearance and safety were both in great concerns. Supply on bulk commodities regionally impacted Eastern Europe areas. • China NDRC and Market Supervision Bureau started joint research …
Verdict – Short-term bearish. DCE iron ore May22 created a big correction during the day. As expected in the last report, iron ore was only weak rebound and re-entered the bearish tunnel. However the long lower shadow line on the daily candle indicated an exhaustion with an increasing volume. Hourly slow stochastic KD created gold …
Continue reading “Iron Ore DCE May Daily Technical Review 25/2/22”
Verdict – Short-term neutral. DCE iron ore May22 closed with a doji. The trading range narrowed compared to yesterday. Hourly slow stochastic KD flattened. Hourly MACD flattened. Short-run technical was indicating a neutral sentiment. The first support is 682.0, the first resistance is 718.5
Market Verdict on Iron Ore： • Bearish. Macro • Kyiv says multiple sites attacked across country. • Europe central bank Vice President said the central bank would consider make adjustments on the asset purchase after the termination of PEPP in this March. In addition, the central bank would consider increasing interest rate. Iron Ore Key …
Verdict – Short-term neutral. DCE iron ore May22 rebounded and recovered majority of loss from yesterday. The two-day low fell on 682.0 – 683.0 area, creating a short-run support. The resistance on 718.5 also gave pressure to iron ore prices for current two days. Short-run slow stochastic KD widened after created gold cross. Short-run CCI …
Continue reading “Iron Ore DCE May Daily Technical Review 23/2/22”
Verdict – Short-term bearish. DCE iron ore May22 re-entered the bearish tunnel during the day with expanding trading volume. The volume and open interest structure indicated that iron ore market was still driven by aggressive new short positions. Hourly MACD expanded in bearish territory. Hourly slow stochastic KD created a dead cross above oversold area. …
Continue reading “Iron Ore DCE May Daily Technical Review 22/2/22”
Market Verdict on Iron Ore： • Neutral. Macro • G20 finance ministers and central bank leaders said that the global economy continued to recover, but influenced by COVID-19 and other countries. The recovery process and policies were different among countries. The inflation pressure of some countries increased. The attending countries promised to take all available …
Verdict – Short-term neutral. DCE iron ore May22 recovered from extreme sentiment after a low open last night, saw a slight recovering volume. Hourly slow stochastic KD created gold cross in oversold area. Hourly MACD widened above 0 axis. Technical signals were indicating a neutral sentiment and exhaustion on the previous sellers, however the mid-run …
Continue reading “Iron Ore DCE May Daily Technical Review 18/2/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro • Europe Union would impose tariff on steel fasteners exported from China by 22.1-86.5%. Iron Ore Key Indicators: • Platts62 $130.65, -9.65, MTD $145.37. SGX and DCE iron ore futures trades both improved on volumes from last night and this morning. However physical trade was …
