Iron Ore DCE May Daily Technical Review 22/1/21

Verdict – Short-term neutral to bearish DCE iron ore corrected during the day and iron ore had entered a narrower consolidation range since the first day of January. Major range in 1035.5- 1084.5. Hourly MACD dead cross. Hourly slow stochastic KD created dead cross below overbought area. CCI slumped from monthly high to weak area …

Daily DCE Review 21/1/21

Iron ore futures opened low and closed higher at the afternoon session, amid market concerns over cyclone development in Australia. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose slightly by 0.90% day-on-day or RMB 9.50 to RMB 1,061/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange …