FIS API Blog
Verdict – Short-term bearish. Iron ore corrected as expected yesterday, with expanding volume and broke down two important support at 900.0 and 875.5 respectively. Hourly MACD went back to bearish area below 0 axis. Hourly CCI refreshed two-month low. Short-run technicals were indicating the correction in continuance. The first support is 806.0,the first …
Continue reading “Iron Ore DCE September Daily Technical Review 15/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. May PPI up 10.8% y-o-y, est. 10.9%, last 11%. • ECB official indicated that July interest rate increase 25 basis points, and expect a 25 basis points increase in September. • Gazprom announced that the gas supply through the Nord Stream about 100 million …
Verdict – Short-term bearish. Iron ore corrected as expected yesterday. September contract daily candles created two long lower shadows with expanding volume, indicating the buyers and sellers have some conflictions on current level and exhausted. Thus the price falling expected to slow down. Hourly MACD potentially created gold cross below 0 axis. Hourly slow …
Continue reading “Iron Ore DCE September Daily Technical Review 14/06/22”
Market Verdict on Iron Ore： • Bearish. Macro • U.S. S&P500 corrected by 4%, confirming an entrance into bear market analysed by Wallstreet analysts. However the Executive Director of Morgan Stanley James P Gorman believed that the probability of a recession in the US economy is 50%, but any downturn is unlikely to be …
Iron Ore Slides Ahead of Key China Data as Outbreaks Continue Iron ore in Singapore slipped lower ahead of Wednesday’s economic data from China, as outbreaks in some of the nation’s key cities remain a drag on demand. The steelmaking ingredient is heading for a fourth straight decline, reversing gains made earlier this month …
Continue reading “Iron Ore Drops On China Covid Worries 14/06/22”
Verdict – Short-term bearish. Iron ore corrected as expected from last week. Iron ore traded with expanding volume compared to late half of last week with some previous taking gains investors leaving market. Hourly MACD corrected below 0 axis. Hourly slow stochastic corrected in line with iron ore prices after the last dead cross …
Continue reading “Iron Ore DCE September Daily Technical Review 13/06/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro • Shanghai financial department statistic indicated that 9472 enterprises above designated scale resumption rate reached 96%, utilisation rate reached 69%, up 20% from the first week of June. Daily electronic consumption up 5.6% last week, which was 86% during same period over last year. …
Top Steelmaker in South Korea Halts Production on Trucker Strike South Korea’s top steelmaker Posco said it has halted output of some products as a prolonged strike by truck drivers adds more disruption to global supply chains. The Pohang-based company stopped production at its four wire-rod factories and two cold-rolled steel plants as of …
Continue reading “POSCO Halts Some Plants Due To South Korea Trucker Strike 13/06/22”
1. Corex traded Fe62.3% 90kt Newman Fines at $141.4, loading Jul 1 – 10th 2. Corex traded 50kt PB Lump+ 120kt PBF both based on Platts62% June Index + $2, loading Jun 7 -16th
Verdict – Short-term neutral to bearish. Iron ore started to slowly head down after rejected on the strong resistance of 945- 948.0 during the week, DCE saw IO interest around two-year high. Maintaining the view from previous reports, it is hard to expect a big breakthrough given a limited amount of new buyers. Hourly …
Continue reading “Iron Ore DCE September Daily Technical Review 10/06/22”
