FIS API Blog
Verdict – Short-term neutral to bullish. DCE iron ore September rebound as expected from last report, however volume declined significantly and the high was rejected previous reversal area at 848.5. Slow stochastic KD potentially create dead cross near overbought area. Hourly CCI reached bullish territory. Technical signals were indicating a potential to test high, …
Continue reading “Iron Ore DCE September Daily Technical Review 20/05/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • The minutes of the ECB meeting showed that ECB members were generally worried about high inflation data. The ECB should end its asset purchase program “in the first few weeks of the third quarter” and raise interest rates “for some time afterwards”. • …
Verdict – Short-term neutral to bullish. DCE iron ore September contract tested the support near 780.0, however resisted by 777.0 with expanding volume. 777.0 – 780.0 would still become an important support level in mid-run. Hourly slow stocahstic KD created gold cross above oversold area. Hourly MACD potentially create gold cross. Short-run technical signals …
Continue reading “Iron Ore DCE September Daily Technical Review 19/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • The U.N. decreased the global economy growth rate at 3.1%, lower than 4% expectation estimated in January. Expected inflation rate at 6.7%, nearly trippled the average inflation level from 2010- 2020, contributed by the massive increase on grains and energy price. • U.K. CPI up …
Verdict – Short-term bearish. DCE iron ore September contract broke down the import support at 800.0 area with growing volume compared with yesterday. Hourly CCI went into bearish territory. Hourly slow stochastic KD deepened correction. Hourly MACD created dead cross above 0 axis. Iron ore short-run entered a correction phase to test the support …
Continue reading “Iron Ore DCE September Daily Technical Review 18/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. Federal chairman Powell indicated that the FOMC supported the 50 basis points interest increase in the next two meetings. Market was pricing in the expectation. Iron Ore Key Indicators: • Platts62 $130.15, +2.80, MTD $133.97. Seaborne PBF obtained growing interests, in particular after …
Verdict – Short-term neutral. DCE iron ore September contract broke through the important resistance at 839.0 and refreshed seven-day high, however corrected back with lower aggregated volume. Hourly MACD potentially create dead cross above 0 axis. Hourly slow stochastic KD created dead cross this morning and deepened correction. Technical signals indicate a potential to …
Continue reading “Iron Ore DCE September Daily Technical Review 17/05/22”
Verdict – Short-term neutral to bullish. DCE iron ore September contract picked up during the last half-hour before closing. The high of day was slight lower than the import resistance level at 839.0. From hourly chart, MACD narrowed above 0 axis. Hourly CCI created lower highs from May 11th. Iron ore needs to breakthrough …
Continue reading “Iron Ore DCE September Daily Technical Review 16/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • China lowered the mortgage rate for homebuyers and announced a phased reopening of shops in Shanghai due this Monday. The China Central Bank PBOC on Sunday cut the lower-bound range of mortgage interest rates from 4.6% to 4.4%. • IEA expected that the global crude …
Verdict – Short-term neutral. DCE iron ore September contract as expected maintained a wide-range movement during the week. If a breakthrough on 839.0 with growing volume, iron ore will potentially enter an accelerated rebound phase. Otherwise, a breakdown on important level from 780.0 – 783.0 would indicate a return to bear. Hourly MACD created …
Continue reading “Iron Ore DCE September Daily Technical Review 13/05/22”
