FIS API Blog
Verdict – Short-term neutral. DCE iron ore January contract tested monthly low and recover fast to neutral area. If a new breakdown on the low of 686.0, iron ore potentially return to bear market in mid-run. Hourly iron ore was stuck in a correction phase because the highs of the descending tunnel were becoming lower. …
Continue reading “Iron Ore DCE Jan Daily Technical Review 18/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · China central bank PBOC held a housing and financial market conference to guide major banks managing the housing related finance and maintain a stable and healthy housing market. Evergrande default risk and spillover was in general controllable. · China National Bureau of Statistics: Q3 GDP up …
Verdict – Short-term neutral. DCE iron ore January contract created a small round of rebound during Asian day session and retreated fast during the last few minutes, the intra-day high was away from last resistance. The support was significant on the 712.0 level. Hourly CCI was consolidating in the neutral range. Hourly slow stochastic KD …
Continue reading “Iron Ore DCE Jan Daily Technical Review 15/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · G20 Finance Minister believed that the pandemic related downside risk will still become an obstacle of global economy recovery, and encouraging countries to leverage political tools to counter against this pandemic impact. Iron Ore Key Indicators: · Platts 62% 126.00 (+2.40), MTD 122.83.PBF traded down 4 …
Verdict – Short-term neutral. DCE iron ore January contract maintained neutral in short-run after a round of rebound from late September. However iron ore potentially keep pushing if a new breakthrough on 748.0-753.5 area. Hourly KD created gold cross above oversold area. Hourly CCI rebounded stably. Technical signals were indicating the correction motivation was limited …
Continue reading “Iron Ore DCE Jan Daily Technical Review 14/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · China September Total Social Financing reached 2.9 trillion yuan, est. 3.05 trillion yuan, last 2.96 trillion yuan. China September M2 Monetary supply up 8.3% y-o-y, est. 8.2%, last 8.2%. · U.S. president Biden announced the biggest ports in U.S., Los Angeles port and Long Island Port …
Verdict – Short-term neutral to bearish. DCE iron ore January contract hourly chart started a new correction phase from July 11th in short-run. The correction potentially continuous and testing low in the coming trading sessions. Hourly MACD widened below 0 axis. Hourly CCI entered a bearish territory. In short-run a breakdown on 720.0 would potentially …
Continue reading “Iron Ore DCE Jan Daily Technical Review 13/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · IMF decreased the global economy growth expectation and sent warning on stagflation. The global economy growth rate in July report decreased from 6% to 5.9% in the year 2021. The growth rate in the year 2022 expected at 4.9%. Iron Ore Key Indicators: · Platts62 $128.50, …
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Verdict – Short-term bullish. DCE iron ore January contract maintained bullish during the day. Daily 5 day moving average, 10 day moving average and 20 day moving average have created two sets of gold cross, which reversed the previous bearish market to a rebound market. Hourly slow stochastic KD entered bullish territory. Hourly CCI entered …
Continue reading “Iron Ore DCE Jan Daily Technical Review 11/10/21”
