Category archives: News

Iron Ore DCE May24 Daily Technical Review 26/02/24

Verdict- Neutral to Bearish. DCE May24 contract corrected massively after broke the periodic low around 885.5. Iron ore gained intra-day support at 871.0, however the short-run support should lie around 850.0. Slow stochastic KD corrected to oversold area. Hourly CCI moved in bearish territory. As said in previous reports, iron ore is facing mid-run selling …

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Daily Virtual Steel Mill Report 26/02/24

Verdict: • Short-run Neutral to Bearish.   Macro: • NAR statistic indicated that the sales of existing homes increased by 3.1% in January, which created the highest level since August 2023. S&P Global statistic indicated that the US February PMI dropped from 52.0 to 51.4. • IMF indicated that Japan economy could soften in 2024, …

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