FIS API Blog
Market Verdict： – Iron ore short-run neutral to bullish. Macro Market Change and Money Movement: – The correction on both oil and coal symbolized the speculation of energy risk temporarily cooled. The headlines over weekends were contributed by the pilot version of China real estate tax came out. Major macro analysts from Asian based securities …
Continue reading “Weekly Virtual Steel Margin Report 26/10/2021”
Verdict – Short-term neutral to bullish. DCE iron ore January contract started a small round of rebound from a month low. However the recovery of the rebound needs a confirm to breakthrough 711.5. Hourly MACD narrowed. Hourly slow stochastic KD created a dead cross below overbought area. Technical signals were indicating the rebound was in …
Continue reading “Iron Ore DCE Jan Daily Technical Review 25/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · China state council researched to support wind based electricity, solar based electricity and to increase utilize advanced smart power grid technology. To control coal, steel, electrolytic aluminum, cement, and petro-chemical projects investments. To support green and low carbon consumption program development. · China financial department drafted …
Market Verdict on Iron Ore： · Oversold in short-run. Macro · China PM Li Keqiang held conference to punish illegal speculation on coal market and prevent the price transmission from commodities to downstream, and avoid cost increasing on mid-small capital company. · China Zhejiang Province downgrade the electricity consumption level from C to B, indicating …
Verdict – Short-term bearish. DCE iron ore January contract started a slump mode in the Asian afternoon session driven majorly by the consecutive limit-down on coke and coal sectors. Ferrous money outflow was significant. Iron ore technically create three black candles from hourly chart with increasing volume, indicating the correction movement potentially extend in the …
Continue reading “Iron Ore DCE Jan Daily Technical Review 21/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · China PM Li Keqiang held conference to punish illegal speculation on coal market and prevent the price transmission from commodities to downstream, and avoid cost increasing on mid-small capital company. · China Zhejiang Province downgrade the electricity consumption level from C to B, indicating the power …
Verdict – Short-term neutral. DCE iron ore January contract tested high at 733.5 again and rejected. Iron ore overall became slight higher than previous trading day. Hourly MACD and slow stochastic both flattened. Hourly CCI entered bullish territory. Technical signals were indicating the price movement were slow and stable currently. The first support is 698.0, …
Continue reading “Iron Ore DCE Jan Daily Technical Review 20/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · China central bank PBOC held a housing and financial market conference to guide major banks managing the housing related finance and maintain a stable and healthy housing market. Evergrande default risk and spillover was in general controllable. · China National Bureau of Statistics: Q3 GDP up …
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Verdict – Short-term neutral. DCE iron ore January contract tested monthly low and recover fast to neutral area. If a new breakdown on the low of 686.0, iron ore potentially return to bear market in mid-run. Hourly iron ore was stuck in a correction phase because the highs of the descending tunnel were becoming lower. …
Continue reading “Iron Ore DCE Jan Daily Technical Review 18/10/21”
