FIS API Blog
Verdict – Short-term neutral. DCE iron ore May23 contract maintained neutral after a big spike, as expected. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross in overbought area and accelerated the correction. Short-run signals were indicating a potential to test low in next few sessions. The first support is 900.0. The …
Continue reading “Iron Ore DCE May23 Daily Technical Review 22/02/22”
Market Verdict on Iron Ore： • Neutral. Macro: • IMF indicated that Asian central banks would think about incease interest rate if inflation failed to reach the target rate in 2023. • U.S. Manufacturing PMI reached 47.8 in February, up from 46.9 in January, refreshed a four-month-high. Iron Ore Key Indicators: • Platts62 …
Verdict – Short-term neutral. DCE iron ore May23 contract extended growth and refreshed listed high. Hourly slow stochastic KD entered overbought area. Hourly CCI fell from bullish territory to neutral area. Hourly MACD widened in bullish territory. Iron ore was in an accelerating growth mode. Be aware of the taking gains and high changing hands …
Continue reading “Iron Ore DCE May23 Daily Technical Review 21/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • The central bank of Germany indicated that Germany economy expected to recover in particular after the resilience growth rate of last Q4. However it would take more time to moderate high consumer price. Iron Ore Key Indicators: • Platts62 $129.55, +2.25, MTD $124.94. Fixed …
Verdict – Short-term neutral. DCE iron ore May23 contract extended growth and refreshed listed high during the trading day. The 900.0 level became the next resistance. Hourly slow stochastic stayed around the boundary of overbought area. Hourly MACD narrowed in bullish territory. The mid-run trend maintained bullish, however be aware of changing hands and big …
Continue reading “Iron Ore DCE May23 Daily Technical Review 20/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • European Central Bank president Christine Lagarde indicated that high inflation would create huge impact in economy and target to bring inflation back to 2%. The ECB officials are proposing 50 bps interest raise in March. • China MIIT urged to increase the merging and restructure …
Verdict – Short-term neutral. DCE iron ore May23 contract corrected after reached periodic high at 893.0. However be a ware of current resistance area from 883.0- 893.0. Hourly MACD created gold cross. Hourly CCI entered bullish territory. Short-run technical were indicated a resilient level, however testing high period. The first support is 880.0. The first …
Continue reading “Iron Ore DCE May23 Daily Technical Review 17/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. last week jobless claims 194,000, est. 200,000, last 195,000. • China MIIT urged to increase the merging and restructure of domestic steel industries, improving the quality of steels. Iron Ore Key Indicators: • Platts62 $124.75, +1.15, MTD $124.36. Fixed trades in mid-stream largely …
Verdict – Short-term neutral. DCE iron ore May23 contract created three consecutive growth during the past trading days. Hourly MACD widened in bullish territory. Hourly CCI entered bullish territory. Iron ore was testing the strength of the pressure on 883.0- 889.0 level, an effective breakthrough would suggest an entrance to bullish again. The first support …
Continue reading “Iron Ore DCE May23 Daily Technical Review 16/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • IEA predicted that the crude oil demand expected to increase 200 million barrels/day, reaching 101.9 million barrels/day. However the restriction of Russia supply and economy recovery globally potentially cause a shortage. Iron Ore Key Indicators: • Platts62 $123.60, -0.15, MTD $124.32. The import …
