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Author archives: Hao Pei
Iron Ore DCE Sep Daily Technical Review 5/7/21
Verdict – Short-term neutral. DCE iron ore September rebounded significantly during the day session, however price was resisted by 1222.5 level for three times from minute-to-minute chart. Hourly slow stochastic KD potentially flattened. Hourly CCI potentially reverse from the high. Hourly MACD expanded. Short-run technical signals were indicating a temporary breath over a two day …
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Daily Virtual Steel Mill Report 5/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The number of non-agricultural employment in the United States increased by 850,000 in June, which was larger than expected at 720,000. Last number 559,000. The U.S. unemployment rate in June was 5.9%, estimated at 5.6%, previous 5.8%. Iron Ore Key Indicators: · Platts62 …
Iron Ore DCE Sep Daily Technical Review 2/7/21
Verdict – Short-term neutral. DCE iron ore September contract tested low, however which was higher than the lower bound of consolidation range. Thus iron ore maintained in the consolidation range. Iron ore started to rebound during the last two hours, however volume was small. Iron ore technically consolidate in narrower range bounds. Hourly slow stochastic …
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Daily Virtual Steel Mill Report 2/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · China Caixin PMI 51.3, estimate 51.8, last 52. · IMF predicted U.S. inflation rate will keep above 2%. IMF also predicted U.S. federal will increase interest rate from the end of year 2022 to early 2023. Iron Ore Key Indicators: · …
Iron Ore DCE Sep Daily Technical Review 1/7/21
Verdict – Short-term neutral. DCE iron ore September contract maintained consolidation within the range of 1135.0 – 1209.0 from June 23rd. From hourly chart, slow stochastic KD created dead cross near overbought area. MACD potentially create dead cross. Technical signals were indicating a potential testing low in the next trading session, however mid-run neutral. The …
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Daily Virtual Steel Mill Report 1/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · National Bureau of Statistics: in June, the commodity price index fell from a high level. Recently, a series of policies of “increase supply and stabilizing price” have been effective, and the rapid rise of manufacturing prices has been controlled. The ex-factory commodity price …
Iron Ore DCE Sep Daily Technical Review 30/6/21
Verdict – Short-term neutral. DCE iron ore September contract consolidated during the current two days. Currently box range from 1135.0- 1171.0. Hourly MACD potentially create gold cross. Hourly KD created gold cross above oversold area. CCI created bullish divergence with price. Technical signals were indicating a potential test high in the next session. The first …
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Daily Virtual Steel Mill Report 30/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · World Bank increased the China economy growth rate from 8.1% to 8.5%. China was the major economic entity after the pandemic recovery, where industry and consumption activities had recovered to pre-pandemic level. Moody expected China GDP in the year 2021 reached …
Iron Ore DCE Sep Daily Technical Review 23/6/21
Verdict – Short-term neutral. DCE iron ore September contract rebounded and corrected after reaching the previous neckline area around 1176.0- 1181.5. A breakthrough on this level would potentially lead a next movement to test last high at 1253.5. A rejection on this level potentially drive iron ore back to consolidation. From hourly chart MACD expanded. …
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