FIS API Blog
Verdict – Short-term neutral. DCE iron ore January contract corrected massively and broke important support area from 728.0 -735.0 with increasing volume, which was bigger than last two trading days. The short-run intra-day support fell on 716.5- 717.0, however mid-run support on 700.0. Iron ore currently terminate the mid-run rebound, however maintain range bound from …
Continue reading “Iron Ore DCE January Daily Technical Review 11/10/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • Chicago Federal official Charles Evans indicated that extra supply-chain interactions were not an issue when the unemployment rate was around the same low level in 2019, with less inflationary impact. Evans believed that if this steeper-than-usual Phillips curve is generating much of the …
S African Kumba iron ore volumes may fall on rail issue South African logistic utility Transnet’s force majeure declaration has disrupted shipments from UK-South African miner Anglo American’s Kumba iron ore operations in South Africa. Kumba received a notice of force majeure from Transnet on 7 October because of strike action by Transnet’s …
Continue reading “South African Kumba Iron Ore Delivery Distrupted On Rail Issue 11/10/22”
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded significantly after broke important resistance area from 731.0- 736.0 area. However the price was almost unchanged during the last three hours. Hourly CCI potentially head back from bullish territory to neutral area. Hourly slow stochastic KD was still approaching overbought area. The …
Continue reading “Iron Ore DCE January Daily Technical Review 10/10/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • Chinese September Caixin PMI 49.3, first time below boom and bust line after June. Caixin Manufacturing PMI down 1.4% at 48.1. Iron Ore Key Indicators: • Platts62 $95.80, unchanged, MTD $95.62. The trade activity in general eased off before and during golden …
Market Verdict on Iron Ore： • Neutral to bullish. Macro： • Before Chinese Golden Weeks, many cities start signing major projects, with a total investment of 3163.9 billion yuan. • The number of new claims for unemployment benefits for the first time last week was 193,000, est. 215,000, last 213,000. The U.S. economy growth …
Verdict – Short-term neutral. DCE iron ore January contract tested high an retreated in the afternoon, as expected neutral outlook in short-run. However intra-day volume grew, and the trade range was wider compared with last trading day. Hourly MACD narrower in bullish area. Technical signals were indicating a neutral sentiment in short-run. The …
Continue reading “Iron Ore DCE January Daily Technical Review 29/9/22”
Market Verdict on Iron Ore： Neutral to bullish. Macro： National conference from CFXC(China Foreign Exchange Commission) mentioned to stablise foreign exchange market, prevent Chinese yuan from sharp rise or fall. Previously Japan started to release 3.6 trillion Yen to slow down the fast depreciating Yen. Iron Ore Key Indicators: Platts62 $99.60, +0.85, MTD …
US offshore operators shut 9pc of Gulf of Mexico oil production, a slight decrease from yesterday’s 11pc, as Hurricane Ian came ashore on Florida’s west coast as a category 4 storm. About 157,700 b/d of offshore oil output was off line as of 12:30pm ET, according to the Bureau of Safety and Environmental Enforcement …
Continue reading “Hurricane Ian Shuts In 9% Of US Gulf Oil Output 29/09/22”
Verdict – Short-term neutral. DCE iron ore January contract corrected and the trend stepped back to a consolidation range from 700.0- 728.5. The trading volume became narrower over the past three days. Thus market entered a watch-and-see mode. Hourly CCI approached bearish territory. Hourly MACD became flat. Short-run neutral. The first support is …
Continue reading “Iron Ore DCE January Daily Technical Review 28/09/22”
