FIS API Blog
Verdict – Short-term bullish. DCE iron ore September contract reached limit-up at 1326.0. Most of trades from last week were done by previous buyers taking gains and new buyers entering market. Thus open interest fell by 13.8% from mid-April. Hourly MACD flattened. Slow stochastic widened. SHFE HRC and Rebar have significant bids working on limit-up …
Continue reading “Iron Ore DCE Sep Daily Technical Review 10/5/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral to bullish, be aware of taking gains. Macro · U.S. non-agricultural employment reached 266,000, much lower than expectation at 978,000. U.S. index DXY dropped to the lowest since February 25th. Inflation-linked assets were bought massively cross weekends. Iron Ore Key Indicators: · Iron ore and …
Verdict – Short-term neutral. China Wuxi Cobalt entered a consolidation area from mid-April. Cobalt didn’t catch up the big voltality as other metals after Labor day. The decrease on trading volume in April in general trapped Cobalt market into a narrow consolidation range. Technical signals were indicating a very neutral trend in short-run as well. …
Continue reading “China Wuxi Cobalt Index Weekly Technical Review 10/5/2021”
Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore futures hourly candles failed to breakthrough intra-day high at 1231.0 level. Hourly CCI retreated to the bound between neutral and bullish area from a two-week-high, which created a bearish divergence with the strong price movement. …
Continue reading “Iron Ore DCE Sep Daily Technical Review 7/5/21”
Market Verdict on Iron Ore： · Iron ore neutral to bullish. Macro · Commodity market witnessed a massive growth in May since a concern on Indian pandemic spread caused a new round of chain-effect. In addition, China-Australia tension also contribute to the metals growth. · IMF indicated world countries need to be aware of the …
Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore created a gap as a strong support after a high open cross Labor Day Holiday. Hourly slow stochastic KD created gold cross near oversold area. Hourly CCI created two-weeks-high fast from a monthly low during …
Continue reading “Iron Ore DCE Sep Daily Technical Review 6/5/21”
Market Verdict on Iron Ore： · Iron ore neutral to bullish. Macro · China National Development of Reform Commission decides to indefinitely suspend all activities under the framework of the China-Australia Strategic Economic Dialogue jointly held by the National Development and Reform Commission of the People’s Republic of China and relevant ministries of the Australian …
Verdict – Short-term neutral to bearish. DCE iron ore September contract retreated as previous long taking gains before Labor Day holiday. However market needs further confirmation on the reversal, unless a breakdown on important support on 1083.0 level. Hourly slow stochastic KD narrowed near oversold area. Hourly CCI flattened. Technical signals were indicating the correction …
Continue reading “Iron Ore DCE Sep Daily Technical Review 30/4/21”
Market Verdict on Iron Ore： · Iron ore neutral. Macro： · U.S. Q1 GDP growth rate at 6.4%, higher than 6.1% expected. Iron Ore Key Indicators: · Platts62 $190.45, unch, MTD $179.29. Corex PBF yesterday traded with a $6 premium based on June Index, which was unchanged to the day before. However miner traded a …
Verdict – Short-term neutral. DCE iron ore September contract consolidated as previous expected in wide range with increasing volume and smaller open interest because of approaching Labor Day. However hourly stochastic KD created dead cross. Hourly MACD widened below 0 axis. Iron ore currently has no clear trend within the range box of 1110.5 – …
Continue reading “Iron Ore DCE Sep Daily Technical Review 29/4/21”
