FIS API Blog
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded massively during the last half hour for the past two trading days, supported by the short covering. Hourly MACD narrowed above 0 axis. Hourly CCI entered a bullish territory. Iron ore refreshed periodic high, which helped the contract maintain in the rebound tunnel. …
Continue reading “Iron Ore DCE January Daily Technical Review 08/11/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • Surveys indicated that Eurozone investing confidence index Sentix improved – 38.3 to 30.9, higher than expected 35, indicated the decrease in energy price prevent the shortage in winter. • China customs statistics indicated that the first 10 months import amount at 34.62 trillion …
Verdict – Short-term neutral to bullish. DCE iron ore January contract recovered most of losses created in early morning before closing. The daily candle ended with a doji. The short-run uptick motive slowed down. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross in overbought area. However iron ore maintain resilient …
Continue reading “Iron Ore DCE January Daily Technical Review 07/11/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • Chinese governors launched speech in Import Expo that China would promote all countries to share the country’s market opportunities, accelerate the construction of a bigger domestic market, optimize the trade mechanism, innovate the trade and services, and expand the import of high-quality products. …
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • BOE increased interest rate by 75 bps to 3%, refreshed the highest interest rate since 2008. • U.S. interest rate traders believed that the Federal would maintain the target interest rate at 5% during most time of 2023 to fight inflation. Iron …
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded as expected, refreshed higher highs and lows for three consecutive days. Iron ore trade volume decreased for the current two trading days with almost flat interest change, indicating the market potentially maintain slight bullish in the next few sessions. The first support is …
Continue reading “Iron Ore DCE January Daily Technical Review 03/11/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • U.S. FOMC increased interest rate by 75 bps to 3.75%-4%, as expected. However Jerome Powell speech mentioned the Federal potentially increase the target interest rate to 5%. U.S. stock index correct massively after the speech. • ECB president Christine Lagarde said that the …
Verdict – Short-term neutral to bullish. DCE iron ore January contract consolidated to close with a doji today. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI fell to neutral area from bullish territory. However the trend line indicated the periodic rebound should last for more sessions. The first support is 618.0. …
Continue reading “Iron Ore DCE January Daily Technical Review 02/11/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • U.S. ISM PMI in October at 50.2, refreshed new low since May 2020. U.S. markit manufacturing PMI 50.4, refreshed new low since June 2020. • ECB president Christine Lagarde said that the main task of Europe at present is to stabilize prices, and …
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded along with the strong recovery sentiment on macro market. However Jan23 contract reached a theoretical low in a range box. The intra-day reversal was supported by the low level of the range box. The intra-day block trades were majorly caused by long covering …
Continue reading “Iron Ore DCE January Daily Technical Review 01/11/22”
