FIS API Blog
Verdict – Short-term neutral. DCE iron ore January contract corrected significantly in the afternoon. In short-run iron ore reached a neckline area at 725.0- 727.0 level, a breakdown on this area would initiate a potential drop targeting 697.0-700.0 area. Iron ore entered oversold area from hourly CCI. Hourly MACD widened below 0 axis. The first …
Continue reading “Iron Ore DCE January Daily Technical Review 22/11/22”
Market Verdict on Iron Ore： • Neutral. Macro: • Multiple Chinese departments indicated that to support housing development and resolve financing and restructures. • U.S. houses sales decreased for nine month consecutively, however house price up 128 months consecutively. The 30-year mortgage rate reached 20-year-high. Iron Ore Key Indicators: • Platts62 $96.25, -2.85, …
Verdict – Short-term neutral. DCE iron ore January contract tested low and recovered most of loss during the day. In short-run MACD potentially re-enter into bullish territory. However buyers should be aware of the short-run money taking gains after filled up the technical gap created in Asia morning. If a breakthrough on 750.0 would indicate …
Continue reading “Iron Ore DCE January Daily Technical Review 21/11/22”
Market Verdict on Iron Ore： • Neutral. Macro: • U.S. Atlantic Federal president Raphael Bostic indicated that he decided to “give up” 75 interest hike in December FOMC, and believed that target policy interest rate of the Federal Reserve only needs to be raised by no more than 100 bps to fight inflation. • …
The Indian government has removed export duties on steel products and iron ore imposed in late-May effective from Saturday, the country’s Ministry of Finance said in a notification. The government said the amendments have been made “on being satisfied that it is necessary in the public interest to do so”. Export duties on nine steel …
Continue reading “India Withdraws Export Duties On steel, Iron ore 21/11/22”
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded as expected, breakthrough 745.5 and 755.5 during one trading day. Hourly slow stochastic KD approahced bullish territory. Hourly MACD widened in bullish area. Short-run signals were indicating a rebound in continue. The first support is 742.5 The first resistance is 787.5
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • Euro Zone October CPI 10.6% on the year, est. 10.7%, refreshed historical high. CPI up 1.5% on the month. The food and energy price were still major contributors to support Euro Zone inflation. • China automobile production 2.559 million units, up 8.6% on …
Verdict – Short-term neutral to bullish. DCE iron ore January contract tested low and rebounded. Intra-day refreshed a periodic high with slight improving trading volume. Hourly MACD in slight bearish territory. However daily MACD moved aggressively in bullish territory. Both short-run and mid-run technical signals were indicating a rebound in the aftermarket. The first support …
Continue reading “Iron Ore DCE January Daily Technical Review 17/11/22”
Market Verdict on Iron Ore： • Neutral. Macro: • UK CPI up 11.1% in October, refreshed the highest since 1982, est. 10.7%, last 10.1%. • U.S. November NAHB housing index at 33, refreshed new low since April 2020, est. 36, last 38. Iron Ore Key Indicators: • Platts62 $98.10, +2.40, MTD $89.25. Iron …
Verdict – Short-term neutral to bullish . DCE iron ore January contract broke the highs of last two trading days, returning to bullish tunnel. However hourly MACD consolidated around 0 axis. Hourly slow stochastic KD potentially create dead cross in overbought area. Iron ore maintain in the ascending tunnel. A breakthrough on 745.5 would indicate …
Continue reading “Iron Ore DCE January Daily Technical Review 16/11/22”
