FIS API Blog
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebound significantly during the day with expanding new buyers built positions. However hourly chart saw four consecutive black candles, together with a narrowed MACD and dead cross in slow stochastic KD, the short-run exhaustion expected to happen. In mid-run iron ore was still in …
Continue reading “Iron Ore DCE January Daily Technical Review 29/11/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • China CSRC spokesman supported the refinancing function of properties and related listed companies. • China NBS: China industrial valued added amount above designated scale reached 6.98 trillion yuan from January to October, down 3% on the year. The ferrous metallurgical industries down 92.7% …
Verdict – Short-term neutral. DCE iron ore January contract was traded in huge range during the day. The two rounds of intra-day rebound were rejected below 764.5, periodic high. The low 743.0 was also the important support of late half of last week. Hourly slow stochastic retreated from overbought area to neutral area. Hourly CCI …
Continue reading “Iron Ore DCE January Daily Technical Review 28/11/22”
Market Verdict on Iron Ore： • Neutral. Macro: • German Prime Minister Olaf Scholtz insisted on the ban on Russian oil at the end of this year. The German government plans to levy a profit tax of up to 33% on traditional fossil energy companies such as natural gas, oil and coal. • China …
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded as expected. For many times, iron ore spiked during the last hour, approaching the half-year high at 757.5. Iron ore returned to the ascending trend. Hourly MACD expanded above 0 axis. Hourly slow stochastic KD approached overbought area. Hourly CCI created the highest …
Continue reading “Iron Ore DCE January Daily Technical Review 25/11/22”
Market Verdict on Iron Ore： • Neutral. Macro: • ECB indicated at the monetary conference that the bank would consider to “pause” QT if see serious economy recession in long-run. Iron Ore Key Indicators: • Platts62 $95.20, +1.00, MTD $91.42. The seaborne market saw less bids although macro environment recovered during last two …
Market Verdict on Iron Ore： • Neutral. Macro: • China State Council proposed to increase financial support for the real economy, appropriately use monetary policy tools such as reserve ratio reduction in due time, and maintain sufficient liquidity. The meeting stressed that it is necessary to promote major projects to speed up capital payment …
Verdict – Short-term neutral to bullish. DCE iron ore January contract opened low and closed high, the loss was majorly recovered during afternoon session. The contract resisted by 747.5, a second high periodically. The lower supported by 714.0. Hourly slow stochastic KD created gold cross above oversold area. Short-run technicals indicated a continious rebound potentially. …
Continue reading “Iron Ore DCE January Daily Technical Review 23/11/22”
Market Verdict on Iron Ore： • Neutral. Macro: • OECD predicted that the global economy growth rate could slow down from 3.1% to 2.2% in 2023. • ECB officer Holzmann supported the interest hike of 75 bps in December. Iron Ore Key Indicators: • Platts62 $94.20, -2.05, MTD $91.18.The seaborne market saw less …
Verdict – Short-term neutral. DCE iron ore January contract corrected significantly in the afternoon. In short-run iron ore reached a neckline area at 725.0- 727.0 level, a breakdown on this area would initiate a potential drop targeting 697.0-700.0 area. Iron ore entered oversold area from hourly CCI. Hourly MACD widened below 0 axis. The first …
Continue reading “Iron Ore DCE January Daily Technical Review 22/11/22”
