FIS API Blog
Verdict- Neutral to Bullish. DCE Sep24 contract consolidated during the trading day, maintain a slight bullish outlook in short-run. Hourly stochastic KD entered overbought area. Hourly MACD widened in bullish territory. The intraday high reached 775.5. The next breakthrough on 780.0 potentially lead to an acceleration of rebound. First support 728.0. First resistance 780.0. …
Continue reading “Iron Ore DCE Sep24 Daily Technical Review 02/04/24”
Verdict- Neutral to Bearish. DCE May24 contract broke previous support at 827.5 and accelerated correction. From hourly chart, MACD widened in bearish territory. Hourly slow stochastic KD deepened correction after three lower dead cross from Mar 22nd to Mar 26th. Hourly CCI was in bearish territory. Short-run signals indicated a lower area in the next …
Continue reading “Iron Ore DCE May24 Daily Technical Review 26/03/24”
Verdict: • Short-run Neutral. Macro: • The World Steel Association statistic indicated that total crude steel production at 148.8 million tons, up 3.7% on the year. Iron Ore Key Indicators: • Platts62 $108.80, -0.30, MTD $110.73. The MACF was traded at fixed price at $107.3 yesterday. All rest of concentrates were facing oversupply …
Verdict- Neutral. DCE May24 contract during last night however recovered most of loss during day session. Iron maintain neutral verdict. Hourly MACD narrowed in bullish territory. Hourly slow stochastic KD created lower dead crosses during past ten trading hours. Hourly CCI was in neutral area. Be aware of an exhaustion in high area. However there …
Continue reading “Iron Ore DCE May24 Daily Technical Review 22/03/24”
Verdict: • Short-run Neutral. Macro: • US jobless claims last week at 210,000, estimated 213,000, last 209,000. Iron Ore Key Indicators: • Platts62 $110.65, +4.15, MTD $110.96. The procurement of iron ore was majorly based on real-demand. The market participants agreed a slow demand for iron ore compared to past five years during …
Verdict- Neutral. DCE May24 contract retreated from a slight high open by closing time. Hourly MACD corrected after a volume boost. Hourly CCI retreated to neutral area from bullish territory. The current area from 818.5 – 837.0 became a rangebox. A breakthrough on the boundary of the box would indicate a new trend in short-run. …
Continue reading “Iron Ore DCE May24 Daily Technical Review 20/03/24”
Verdict: • Short-run Neutral to Bullish. Macro: • Bank of Japan announced an interest rise by 10bps to 0% – 0.1%. The eight-year length negative interest rate officially terminated. Iron Ore Key Indicators: • Platts62 $107.90, +2.65, MTD $111.33. The fast recovery on derivatives market as well as the return of China demand …
Verdict: • Short-run Neutral to Bullish. Macro: • From January to February, China’s pig iron production reached 140.73 million tons, a year-on-year decrease of 0.6%. The crude steel production was 167.96 million tons, a year-on-year increase of 1.6%; The steel production was 21.343 million tons, a year-on-year increase of 7.9%. China’s coal production above …
Verdict- Neutral to Bullish. DCE May24 contract recovered all losses created on last Friday and this morning. Hourly MACD widened in bullish area. Hourly slow stochastic KD created gold cross in oversold area and climbed up fast to approach overbought area. Hourly CCI was approaching bullish area. First support 787.5. First resistance 822.0.
Verdict: • Short-run Neutral. Macro: • China National Statistics Bureau: China industrial value added amount above designated size up by 7% in January and February, up 0.2% from last December. • A statistic from BOE indicated that the expected inflation rate during the past three month had dropped from 3.3% to 3.0%. The long-run …
