FIS API Blog
Verdict – Short-term neutral. DCE iron ore May23 contract corrected as expected. Hourly slow stochastic KD created a dead cross below overbought area. Iron ore maintained above 40-hour moving average after November 25th. Thus, it take sometime to evaluate a real correction at this level. Moreover, the intraday low used to be strong support last …
Continue reading “Iron Ore DCE May23 Daily Technical Review 03/01/22”
Verdict – Short-term neutral. DCE iron ore May23 contract refreshed listed high during the day, mid-run maintain bullish trend. Be aware of short-run reversal across holiday. DCE may was almost flat to January. Thus, futures on far month was valued at high level. The first support is 841.5. The first resistance is 875.0
Market Verdict on Iron Ore： • Neutral. Macro: • China’s Ministry of Finance: In 2023, China will appropriately increase fiscal expenditure, promote recovery of consumption market. • U.S. jobless claim increased 9,000 to 225,000, as expected. • Australia and India signed an agreement ECTA, aiming to decrease the bilateral taxes. Iron Ore Key …
Verdict – Short-term neutral. DCE iron ore May23 contract broke important resistance at 841.5, refreshed periodic high at 847.0 during the day. However be aware of correction and test 841.5 as a support. Hourly MACD maintained in bullish territory for four trading days, iron ore maintained in bullish territory in mid-run. In short-run, iron ore …
Continue reading “Iron Ore DCE May23 Daily Technical Review 29/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • As of January 8th, the PCR test of all entry personnel in China will be cancelled. • U.S. housing growth rate decreased from 11.1% in September to 9.8% in October, created the slowest growth rate since September 2020. Iron Ore Key Indicators: • Platts62 …
Verdict – Short-term neutral. DCE iron ore May23 contract was closed to listed high at 841.5, then corrected during the day session. Iron ore became volatile after breakthrough 800.0, with expanding volume, indicated a divergence between bull and bear camps. Hourly slow stochastic KD started correction after a dead cross created in overbought area. Iron …
Continue reading “Iron Ore DCE May23 Daily Technical Review 16/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • ECB: Estimated GDP growth in 2022 at 3.4%, est. 3.1%. GDP growth in 2023 at 0.5%, est. 0.9%. GDP growth in 2024 at 1.9%, est. 1.9%. • Dow Jones Index created the biggest single day correction over last three month. U.S. November retail sales drop …
Verdict – Short-term neutral to bullish. DCE iron ore May23 contract returned to bullish tunnel after broke previous high at 823.0. Hourly slow stochastic KD created three higher gold cross, approaching overbought area. Hourly MACD widened in bullish territory. Short-run technical signals were indicating a potential to test highs in the next few sessions. The …
Continue reading “Iron Ore DCE May23 Daily Technical Review 15/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • The U.S. Federal Reserve raised interest rates by 50 basis points in the last FOMC in 2022 as expected, and the benchmark interest rate rose to a new 15 year high of 4.25% – 4.5%, and reiterated that it was “possible” and appropriate to continue …
Verdict – Short-term neutral. DCE iron ore May23 contract consolidated and closed at same level as yesterday as expected from last report. Hourly CCI entered bullish territory. Hourly MACD narrowed above 0 axis. The first support is 789.0. The first resistance is 823.0
