Market Verdict on Iron Ore： • Neutral. Macro： • The Bank of England announced a 25 basis point increase in its benchmark interest rate to 4.25%, in line with market expectations. This is the 11th consecutive interest rate hike by the Bank of England since December 2021. The Bank of England said signs of …
Author archives: Hao Pei
Iron Ore DCE May23 Daily Technical Review 23/03/22
Verdict- Bearish in Short-run. DCE May23 contract maintained correction as expected. The stochastic signals lost the sensitivity in a single direction trend after many days. Hourly MACD was closed to neutral area. Hourly stochastic KD was moving along the oversold boundary. The next two support used to be a periodic low previously, which could only …
Continue reading “Iron Ore DCE May23 Daily Technical Review 23/03/22”
Daily Virtual Steel Mill Report 23/03/22
Market Verdict on Iron Ore： • Neutral to Bearish. Macro： • U.S. Federal hiked 25 bps interest rate to reach 4.75- 5%, as expected from Fed tools. The market expected a interest decrease before the end of 2023 to stimulate economy growth. • U.S. lowered GDP growth rate to 0.4% in 2023, previously estimated …
Iron Ore DCE May23 Daily Technical Review 22/03/22
Verdict- Bearish in Short-run. DCE May23 contract entered a correction phase as expected. The current iron ore accelerated correction each time broke important support level. All support level from our reports become the significant intra-day support. Hourly MACD in bearish territory. Hourly CCI maintained in bearish territory. The market potentially stay in bearish mode without …
Continue reading “Iron Ore DCE May23 Daily Technical Review 22/03/22”
Daily Virtual Steel Mill Report 21/03/22
Market Verdict on Iron Ore： • Neutral to Bearish. Macro： • CME FedWatch indicated that the 25 bps interest hike in March had reached 87.1%. • U.S. Finance Minister said that if small banks encounter a run and risk out-spread, they are willing to intervene to protect deposits. Iron Ore Key Indicators: • …
Iron Ore DCE May23 Daily Technical Review 21/03/22
Verdict- Bearish in Short-run. DCE May23 contract entered a correction phase. Maintained the short-run bearish outlook. Hourly slow stochastic entered oversold area. Hourly MACD moved in bearish territory. Hourly 5 Day MA, 10 Day MA and 20 Day MA were indicating a bearish structure. First support 860.0. First resistance 900.0.
Daily Virtual Steel Mill Report 21/03/22
Market Verdict on Iron Ore： • Neutral to Bearish. Macro： • CME FedWatch indicated that the 25 bps interest hike in March had reached 76.8%. • The Swiss government has committed nearly 260 billion Swiss francs to rescue Credit Suisse, equivalent to one-third of Swiss GDP. Iron Ore Key Indicators: • Platts62 $126.50, …
Iron Ore DCE May23 Daily Technical Review 20/03/22
Verdict- Bearish in Short-run. DCE May23 contract entered a correction phase. The contract broke 900.0 and tested the second support level at 883.0. Hourly CCI entered bearish territory. Hourly MACD maintained in bearish territory after March 14th. Short-run signals were indicating the correction in continuance. First support 860.0. First resistance 900.0.
Daily Virtual Steel Mill Report 20/03/22
Market Verdict on Iron Ore： • Neutral to Bearish. Macro： • China PBOC announced that it will cut Reserve Requirement Rate by 25 bps for Financial institutions starting from March 27th, viewed as a positive sign to the investment market. • UBS to buy Credit Suisse in $3.3 billion to end crisis. Iron …
Iron Ore DCE May23 Daily Technical Review 17/03/22
Verdict- Neutral in Short-run. DCE May23 contract recovered the loss from yesterday, however slow down in the afternoon session. Hourly MACD potentially create gold cross. Hourly slow stochastic KD created gold cross above oversold area. A breakthrough on 921.0 would indicate a fast growth. First support 900.0. First resistance 936.0.