FIS API Blog
Verdict – Short-term neutral. DCE iron ore January contract consolidated during the day as expected. Tested high however rejected by previous strong resistance at 687.0. Hourly slow stochastic KD approached bullish territory and created dead cross. Hourly MACD narrowed above 0 axis. Short-run maintain neutral sentiment. The first support is 652.0. The first resistance is …
Continue reading “Iron Ore DCE January Daily Technical Review 21/10/22”
Market Verdict on Iron Ore： • Neutral. Macro： • CSRC allowed real estate company to finance in A share if meet with required conditions. • China Securities Finance lowered the overall refinancing rate by 40bps to meet with the low cost financing of security companies • New projects started concentrated in mid-China with total …
Verdict – Short-term neutral. DCE iron ore January contract corrected significantly with expanding volume. Hourly iron ore fell back to a descending trend. Hourly MACD widened in bearish territory. Hourly slow stochastic KD dropped to oversold area. Hourly CCI dropped to bearish territory. A breakdown on 652.0 level would indicate iron ore went back to …
Continue reading “Iron Ore DCE January Daily Technical Review 20/10/22”
Market Verdict on Iron Ore： • Neutral. Macro: • The Beige Book of the Federal Reserve said that enterprises were more pessimistic about the economic outlook, but the inflation pressure eased. • Eurozone September CPI annual growth rate up 9.9%, est. 10%, last 9.1%. U.K. September CPI annual growth rate up 10.1%, est. 10%, …
Global steel demand will fall by 2.3pc this year to 1.79 bn t, industry association Worldsteel said today, revising down its April guidance of 0.4pc demand growth. High interest rates and persistently high inflation led to the revision, along with monetary tightening and market softening in China. “The expectation of a continued and …
Continue reading “Global Steel Demand To Drop 2.3% This Year According To Worldsteel 20/10/22”
Verdict – Short-term neutral. DCE iron ore January contract maintained consolidation for the second trading day. Hourly MACD narrowed above 0 axis. Hourly CCI entered neutral area. Short-run technical signals were indicating a neutral sentiment currently. The first support is 678.0. The first resistance is 700.0
Market Verdict on Iron Ore： • Neutral. Macro： • The new British Chancellor of the exchequer overturned Prime Minister Truss’s huge energy subsidy plan. Supported by the news, the British pound rose 1.54%, and the FTSE index was nearly 1% by closing. • U.S. Industrial production growth rate increased 0.4% in September compared with …
Australian resources firm BHP has kept its iron ore production guidance for the 2022-23 fiscal year to 30 June unchanged with sustained output. It produced 72.1mn t of iron ore during July-September, up by 2.2pc on a year earlier, reflecting a firm supply chain performance and reduced Covid-19 related impact, which was partially …
Continue reading “BHP Maintains 2022-23 Iron Ore Production Guidance 19/10/22”
Verdict – Short-term neutral. DCE iron ore January contract closed half yuan higher than previous closing. Iron ore maintained weak during most of time today, as created lower lows periodically. At the same time, the intraday movement was rejected by 693.0-694.5 area twice. Hourly MACD created gold cross. Hourly slow stochastic KD created gold cross …
Continue reading “Iron Ore DCE January Daily Technical Review 18/10/22”
Market Verdict on Iron Ore： • Neutral. Macro： • The new British Chancellor of the exchequer overturned Prime Minister Truss’s huge energy subsidy plan. Supported by the news, the British pound rose 1.54%, and the FTSE index was nearly 1% by closing. • U.S. EIA report indicated the biggest shale oil basin production estimated …
