FIS API Blog
Verdict – Short-term neutral, slow down on correction. DCE iron ore September tested two months low at 1094.0 and rebounded fast before closing to recover partial loss. In general, the support around 1110- 1113.5 was strong even it was broken during the market, since price and volume went up to push price back quickly. A …
Continue reading “Iron Ore DCE Sep Daily Technical Review 29/7/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal maintained 0-0.25% unchanged as interest rate, fell in expectation. · FTSE A50 Index rebounded near 3% overnight. Shanghai Equity rebounded 1.5% in early afternoon. Iron Ore Key Indicators: · Platts62 $201.25, +0.80, MTD $214.54. · China Iron and Steel Association(CISA): The …
Verdict – Short-term neutral. DCE iron ore September finally ended with a rebound almost cover the loss from last trading day. However the rebound with small volume was not strong enough to create a firm trend. Hourly MACD expanded above 0 axis. The lower support at 1100- 1103.5 provide strong rebound several times from early …
Continue reading “Iron Ore DCE Sep Daily Technical Review 28/7/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · National Bureau of Statistics: H1 2021 above designated industry companies total profit 4.22 trillion yuan, up 66.9% y-o-y, up 45.5% compared to the year 2019. · IMF global economic development review indicated the year 2021 global economy growth at 6%, in the year …
Verdict – Short-term neutral. DCE iron ore September rebounded slightly and overall stablised as predicted on last Friday. A breakthrough on 1161.5 would lead iron ore into a short-run bullish market. However a rejection on the intra-day high again would mean iron ore need more time to consolidate. Hourly MACD was running in stable mode …
Continue reading “Iron Ore DCE Sep Daily Technical Review 26/7/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · According to Bloomberg’s survey of economists, it is expected that the Federal Reserve will begin to reduce its asset purchase plan next year, focusing on mortgage-backed securities. · The strong typhoon landed on east China caused coastal area transportation stoppage and port closure. …
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · President of Europe Central Bank Largede expected Q2 economy started to rebound in Europe area, and growth rate become stronger in Q3 supported by strong manufacturing industry. Largede expected EU will recover to pre-pandemic economy level in next Q1. Inflation was lower than …
Verdict – Short-term neutral. DCE iron ore September corrected significantly with increasing trading volume. Hourly MACD created dead cross. Hourly slow stochastic KDE created dead cross below overbought area, indicated a market reversal. CCI created a double top area. Technical signals were indicating the correction potentially continues. The first support is 1114.5, the first resistance …
Continue reading “Iron Ore DCE Sep Daily Technical Review 22/7/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · A senior official of the IMF said the global output gap of about $15 trillion caused by the Covid-19 crisis, needed “tough reforms” in product, labor and financial markets. · US Deputy Secretary of state Sherman will visit China from July 25 to …
Verdict – Short-term bearish. DCE iron ore September corrected significantly with increasing trading volume. Hourly MACD created dead cross. Hourly slow stochastic KDE created dead cross below overbought area, indicated a market reversal. CCI created a double top area. Technical signals were indicating the correction potentially continues. The first support is 1152.0, the first resistance …
Continue reading “Iron Ore DCE Sep Daily Technical Review 21/7/21”
