FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore September contract corrected significantly during the day, the low of the day fell on the important resistance at 745.0, which was a Fibonacci number in range 698.5- 822.5. Hourly MACD widened below 0 axis. Hourly slow stochastic KD entered oversold area without seeing signs of …
Continue reading “Iron Ore DCE September Daily Technical Review 01/07/22”
Market Verdict on Iron Ore： • Neutral. Macro • Opec and Non-Opec oil production countries decided to increase 648,000 barrels of crude oil production in August. • Global central banks revealed that inflation control was the most important thing although the process potentially eliminate the economy growth. Iron Ore Key Indicators: • Platts62 …
China’s steel industry purchasing manager’s index for June hit its lowest level in over a decade, with the government’s pledge to go all-in on infrastructure spending to rescue the economy yet to register with producers. The steel PMI tumbled to 36.2, deep in contraction, with new orders plummeting to 25.9, according to official figures released …
Continue reading “China June Steel PMI Hits Decade Low Amid High Inventory 01/07/22”
Verdict – Short-term neutral to bullish. DCE iron ore September contract broke down important support at 790.0. Daily high was also resisted by previous resistance area arround 819.5- 822.5. Hourly MACD created dead cross. Hourly slow stochastic KD corrected after creating a dead cross in overbought area. Hourly CCI approached bearish territory. Technical signals …
Continue reading “Iron Ore DCE September Daily Technical Review 30/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • Reuters: a market source indicated that G7 has initiated talks with China and India regarding to the price ceiling on crude oil from Russia. • China June official PMI 50.2, est. 50.5, last 49.6. Iron Ore Key Indicators: • Platts 62%: $123.20 (-1.80) MTD …
China’s Top Coal Region Expands to Prevent Another Power Crunch China’s biggest coal-mining region will shoulder much of the increases in capacity demanded by the government to forestall another national power crisis. The northern province of Shanxi has pledged to add 107 million tons this year, over a third of the country’s target, which …
Continue reading “China’s Biggest Coal Region Raises Anuual Output To Ensure Power Supply 30/06/22”
Verdict – Short-term neutral to bullish. DCE iron ore September contract tested low and supported above 790.0 area, confirmed the effectiveness of the support. Iron ore followed intraday rebound. Hourly chart created a temporary resistance around 819.0- 822.5 area, a rebound through this level would potentially see a continuous spike. The first support …
Continue reading “Iron Ore DCE September Daily Technical Review 29/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • China reduced Covid-19 related quantarine period, lifted sentiments on secondary market investments. • ECB Finance Minister Lagarde reclaimed to hike 25 bp on interest rate in July, and inidcated that it is necessary to start more aggressive hike in this September. Iron Ore Key …
Verdict – Short-term neutral. DCE iron ore September contract broke important previous resistance around 790.0 level, which was a upper boundary of a gap. Be aware that aggregated open interest level was still running at three-year high. Gains taking on both sides could trigger a big intra-day level movement. Previous resistance790.0 became the first …
Continue reading “Iron Ore DCE September Daily Technical Review 28/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • During the first five months of 2022, Chinese industrial enterprises above designated scale reached 3.44 trillion yuan, up 1% on the year. Jan- Apr growth was 3.5%. The revenue growth reached 6.8% on the year. Iron Ore Key Indicators: • Platts62 $119.60, +4.60, MTD …
