FIS API Blog
Verdict- Neutral. DCE Sep23 contract corrected during the day, majorly impacted by the weak sentiment in commodity market. Iron ore once broke important support at 698.5, however quickly recovered. If a breakdown on current level by 698.0- 700.0 in next few trading sessions, iron ore potentially return to bearish trend in mid-run. Hourly slow stochastic …
Continue reading “Iron Ore DCE September23 Daily Technical Review 04/05/22”
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. Federal increased interest rate by 25 bps to 5.00% – 5.25% area as previous expectation. However the conference didn’t mention “ a further interest hike”, which was read as federal would stop interest hike. • IMF published “Economic Outlook for Asia and Pacific report”, …
Verdict- Neutral. DCE Sep23 contract rebounded slightly as expected. However iron ore is expected to enter a quite week due to upcoming holidays next week. Hourly slow stochastics created two lower dead crosses in neutral area. Hourly CCI approached the boundary of bearish territory. Hourly MACD narrowed above 0 axis. First support 698.5. First resistance …
Continue reading “Iron Ore DCE September23 Daily Technical Review 28/04/22”
Market Verdict on Iron Ore： • Neutral. Macro： • China NBS statistic indicated that Jan- Mar 2023 industrial profit amount above designated scale reached 151.67 million yuan, down 21.4% on the year. • U.S. Q1 GDP growth rate at 1.1%, lower than expected 2.0%. Iron Ore Key Indicators: • Platts62 $106.05, -1.60, MTD …
Verdict- Neutral to bullish. DCE Sep23 contract opened high and corrected to lower level before closing. In general, iron ore still in a slow rebound structure. Iron ore could regain support fast unless a breakdown on 698.5. Hourly MACD maintained in bullish territory. Hourly CCI corrected after rejected by bullish area. However, iron ore movement …
Continue reading “Iron Ore DCE September23 Daily Technical Review 27/04/22”
Market Verdict on Iron Ore： • Bullish. Macro: • IEA said in its global electronic vehicle outlook that EV sales are expected to grow 35% on the year to 14 million units, accounted for 18% of the market value. The electronic power in automobile market estimated an equivalence to 5 million barrels of decrease …
Verdict- Neutral to bullish. DCE Sep23 contract rebounded after refreshed periodic low at 698.5. The level 698.5- 700.0 area became an important support, as iron ore rebounded fast after touched the level. Hourly MACD created gold cross. Hourly slow stochastic rebounded after created a gold cross above oversold area. In short-run iron ore potentially recover …
Continue reading “Iron Ore DCE September23 Daily Technical Review 26/04/22”
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. …
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 …
Continue reading “Iron Ore DCE September23 Daily Technical Review 25/04/22”
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 …
Continue reading “Iron Ore DCE September23 Daily Technical Review 24/04/22”
