Market Verdict on Iron Ore： • Neutral to bullish. Macro： • The draft of China banks’ mortgage approvals became a sign for the levy of real estate tax. However most of house analysts believed that the tax potentially take many years to land. Moreover, some big southern cities eased house buying restrictions for non-residents. …
Author archives: Hao Pei
Iron Ore DCE September23 Daily Technical Review 25/04/22
Verdict- Neutral. DCE Sep23 contract corrected during the last hour. Although price level broke support at 715.5, sellers should be aware of a day trading action from closing to opening. Hourly MACD narrowed in bearish territory and potentially created a gold cross. However hourly CCI headed down to bearish area again. Technical signals were indicating …
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Iron Ore DCE September23 Daily Technical Review 24/04/22
Verdict- Neutral. DCE Sep23 contract corrected during the day. However the current four hourly candles were indicating a potential of recovery. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD created gold cross in oversold area. Hourly CCI entered neutral area from bearish territory. Iron ore potentially test low again during next session, however …
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Daily Virtual Steel Mill Report 24/04/22
Market Verdict on Iron Ore： • Neutral. Macro： • Wells Fargo Bank recently predicted that the US economy will enter a recession later this year, but the Federal Reserve will not lower interest rates this year. The bank expected that the Federal Reserve would not turn until inflation expectation approached 2%, and rate cuts …
Iron Ore DCE September23 Daily Technical Review 20/04/22
Verdict- Neutral. DCE Sep23 contract corrected during the day, however we maintain neutral verdict as the market regained support near 757.0 – 760.0 area. Hourly MACD widened in bearish territory. Hourly slow stochastic KD was preparing for a breakthrough on the boundary of oversold area. Hourly CCI approached neutral territory from bearish territory. The technical …
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Daily Virtual Steel Mill Report 20/04/22
Market Verdict on Iron Ore： • Neutral. Macro： • The Federal Reserve stated in its Beige Book that in recent weeks, the US economy has stagnated, recruitment and inflation have slowed, and credit channels have narrowed. The US Republican Party proposes to raise the debt ceiling by $1.5 trillion or extend it until March …
Iron Ore DCE September23 Daily Technical Review 19/04/22
Verdict- Neutral. DCE Sep23 contract corrected during the day. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI reached bearish territory after rejected by the boundary of neutral and bullish area. The technical signals are still indicating a potential to test low, however the correction wasn’t expected …
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Daily Virtual Steel Mill Report 19/04/22
Market Verdict on Iron Ore： • Neutral. Macro: • U.S. Federal governor Raphael Bostic estimated the interest rate would maintain unchanged for a long period after the last hike in 2023. The Federal Reserve’s support for further interest rate hikes to cope with persistent inflation. The market has exaggerated concerns about economic recession. • …
Iron Ore DCE September23 Daily Technical Review 18/04/22
Verdict- Neutral to bullish. DCE Sep23 contract rebounded for the second day, breakthrough the descending tunnel created last week. Hourly MACD maintained in bullish territory. CCI headed down to neutral area from bullish territory. Iron ore potentially test high in the next few sessions. In mid-run, iron ore potentially recover bullish if breakthrough 794.5- 803.0 …
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Daily Virtual Steel Mill Report 18/04/22
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. NAHB April index 45, last 44, est. 44. The improvement on the housing investment was contributed by the limited sources of second-hand houses on the market, as well as the lower mortgage rates, which stimulated the demand for new houses. • China Q1 GDP …