FIS API Blog
Verdict – Short-term rebound. DCE iron ore September contract recovered most of losses from yesterday and rebounded. Hourly candles returning to previous consolidation platform. Hourly slow stochastic KD created gold cross above oversold area. CCI returned to neutral area from a two-week-low area. Daily slow stochastic KD potentially create gold cross near oversold area. Short-run …
Continue reading “Iron Ore DCE Sep Daily Technical Review 27/5/21”
Market Verdict on Iron Ore： · Iron ore short-run rebound after oversold. Macro · China PM Li Keqiang presided over the executive meeting of the State Council on May 26, to support finance for small and enterprises and individual businesses. To support large enterprises to build a platform connecting supply and demand for the industrial …
Verdict – Short-term bearish. DCE iron ore September contract corrected significantly during the day. Hourly MACD created dead cross. Hourly CCI dropped from the highest since May 18th to the lowest of the year. Currently iron ore price drop along with new short position, indicating a continuous correction. The first support is 964.5, the first …
Continue reading “Iron Ore DCE Sep Daily Technical Review 26/5/21”
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · China top economic planning to rein in abnormal fluctuations in commodities price including iron ore, copper, and corn, which was part of broader five-year plan to overhaul various pricing mechanisms. · On May 25, CNY against the US dollar mid-rate was 6.4283, up …
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Verdict – Short-term neutral. DCE iron ore September contract created the lowest since April 16th, however recover most of losses in Asian session. The resistance on 1100 area was significant. Hourly slow stochastic KD created gold cross near oversold area. CCI created bullish divergence with iron ore price. Technical signals were indicating a slow down …
Continue reading “Iron Ore DCE Sep Daily Technical Review 24/5/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · On the morning of May 23,China National Development of Reform and Commission and other five departments jointly held a meeting interview key enterprises with strong market influence in iron ore, steel, copper, aluminum and other industries, with the participation of the Iron …
Verdict – Short-term bearish. DCE iron ore September contract struggled around 1111.0 level several times during the day and finally broke 1102.0, which was an important support level during the current two days. Hourly CCI went back into bearish area. Hourly MACD widened below 0 axis. Hourly KD softened after a dead cross above oversold …
Continue reading “Iron Ore DCE Sep Daily Technical Review 21/5/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China’s one-year Loan Prime Rate was 3.85% in May, same as 3.85% last month. LPR 5-year was 4.65%, which was 4.65% last month as well. LPR has been “standing still” for 13 consecutive months. · Iranian President Mahmoud Rouhani says agreement has …
Verdict – Short-term neutral. DCE iron ore September contract tested low several times on 1102.0 area and rebounded, however still have some distance to the previous upper bound of the gap created last night. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI started to rebound prior to other technical signals. A …
Continue reading “Iron Ore DCE Sep Daily Technical Review 20/5/21”
