FIS API Blog
Verdict – Short-term neutral. DCE iron ore September contract tested high and corrected to very close level as yesterday. Hourly MACD narrowed. Hourly slow stochastic KD created dead cross near overbought area in previous hours. CCI retreated from bullish area. Hourly candles flattened. However technical signals were indicating a neutral with potential to test low. …
Continue reading “Iron Ore DCE Sep Daily Technical Review 2/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The China Market Supervision Agency said will closely track the volatility of commodity prices, strengthen pre-risk analysis, regularly monitors the trend of iron ore, steel, coal, crude oil and other commodity prices, create weekly analysis reports, and implement effective supervision. · China May …
Verdict – Short-term neutral. DCE iron ore September contract recovered massively during the day, however open interest was similar to previous trading day, indicating the balance structure between long and shorts. CCI hourly chart was indicating a potential roof area. Slow stochastic KD entered an overbought area. Technical signals were indicating a slow down on …
Continue reading “Iron Ore DCE Sep Daily Technical Review 31/5/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China PM Li Keqiang pointed out at the meeting that to utilize market tools to solve major problems in economic such as rising commodity prices, promote science and technology innovation, expand domestic demand and promote opening up. Xi Jinping delivered an important speech …
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · Biden’s budget raise annual spending to $6 trillion, with annual deficits of more than $1.3 trillion over the next decade. Iron Ore Key Indicators: · Platts62 $187.65, -4.00, MTD $207.05.PBF premium marked arround yearly high at $8.65, based on July index, which was …
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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