Category archives: News

Iron Ore DCE Sep24 Daily Technical Review 23/05/24

Verdict- Neutral to Bearish. DCE Sep24 corrected following the sharp correction of gold and copper during the day. As we mentioned in the last report, the last growth was not sustainable. Hourly slow stochastic KD created dead cross in overbought area and deepened correction. Hourly CCI was approaching bearish territory. Hourly MACD created dead cross …

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Daily Virtual Steel Mill Report 23/05/24

Verdict: • Short-run Neutral.   Macro: • On May 23rd, the China National Development and Reform Commission, the Central Bank, and other four departments mentioned promoting stable and moderate reductions in loan interest rates, optimizing tax and fee preferential policies, implementing structural tax reduction and fee reduction policies and strengthening scientific and technological innovation. Appropriately …

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Iron Ore DCE Sep24 Daily Technical Review 22/05/24

Verdict- Neutral. DCE Sep24 rebounded during the trading day and approached area below several highs of the year. The contract saw listed high at 942.0 yuan, second high at 930.0 yuan and intraday high at 925.0. Hourly MACD expanded in bullish territory. Hourly CCI entered bullish territory. Be aware of market reversal risk before iron …

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