FIS API Blog
Verdict – Short-term neutral. DCE iron ore May23 contract recovered partial loss created by yesterday and brought the trend back to consolidation in short-run. Hourly MACD entered a bullish territory. Similarly, hourly CCI approached bullish territory. Hourly candles created a important gap from 823.5-826.5, which potentially become a support in short-run. The first support is …
Continue reading “Iron Ore DCE May23 Daily Technical Review 10/01/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro： • ECB announced that the strong EU salaries increase would become important factor to support interest hike. • U.S. Atlantic Federal president Raphael Bostic predicted a 1% economy growth in U.S. in 2023 instead of recession. Bostic believed that inflation rate potentially drop to …
Verdict – Short-term bearish. DCE iron ore May23 contract from hourly candles chart saw a significant reversal pattern, which indicate a potential to test low in next few sessions. A recover on 830.0 would indicate a short-run rebound, however the main trend reversed from a bullish to a correction phase in short-run. The first support …
Continue reading “Iron Ore DCE May23 Daily Technical Review 09/01/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro： • U.S. non-agriculture claims increased by 223,000 in December, created the smallest increase since December 2020, higher than predicted 200,000. • U.S. Atlantic Federal president Raphael Bostic indicated that the Federal would insist on interest hike to fight high inflation, till interest rate reach …
Verdict – Short-term neutral. DCE iron ore May23 contract recovered the loss of previous two trading days, yet to see a clear rebound signal at this level. Hourly MACD created gold cross. Hourly slow stochastic KD created higher gold cross in neutral area. Technical signals were indicating a test high. The first support is 820.0. …
Continue reading “Iron Ore DCE May23 Daily Technical Review 06/01/22”
Market Verdict on Iron Ore： • Neutral. Macro: • China Caixin December PMI at 48.0, last 46.7, est. 46.8. • U.S. December ADP employment increased by 235,000, higher than expected 150,000, last 127,000. Iron Ore Key Indicators: • Platts62 $117.20, +0.20, MTD $117.28. PBF float premium were assessed at $1.2-1.8 based on February …
Verdict – Short-term neutral to bearish. DCE iron ore May23 contract entered a short-run correction phase from hourly candles chart. Hourly MACD located in bearish territory. However hourly CCI recovered from bearish territory to neutral area. Iron ore has confliction on the level of 840.5-841.0 currently. Iron ore expected to test low in next few …
Continue reading “Iron Ore DCE May23 Daily Technical Review 05/01/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro: • Europe council predicted that Eurozone GDP average growth rate at 0.3%, lower than last expectation at 2.3% in early 2022. • U.S. FOMC participants indicated a slow down on interest hike, yet to see any sign of interest decrease in 2023. Iron …
Verdict – Short-term neutral. DCE iron ore May23 contract entered a short-run correction tunnel observed from hourly chart. As expected from last report, iron ore tested the import support of 40-hour moving average. A breakdown on this support level periodically indicated a mid-run level correction start. Hourly MACD widened below 0 axis. Hourly slow stochastic …
Continue reading “Iron Ore DCE May23 Daily Technical Review 04/01/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro: • China’s Ministry of Finance: In 2023, China will appropriately increase fiscal expenditure, promote recovery of consumption market. • Many dry bulk shipowners will have to slow steam their fleets for their vessels to achieve a passing rating in the International Maritime Organization’s (IMO) …
