Category archives: News

Iron Ore DCE January24 Daily Technical Review 31/10/23

Verdict- Neutral to Bullish. DCE Jan24 contract rebounded as expected. However, the upward trend is slowing down. Iron ore saw intra-day resistance from 902.5- 904.0. Hourly MACD created dead cross. Hourly CCI entered bullish territory from neutral area. Short-run technical signals were indicating an exhaustion in current level.   First support 881.5. First resistance 920.

Daily Virtual Steel Mill Report 31/10/23

Verdict: • Short-run Neutral.   Macro: • Canada central bank indicated the resilience of inflation would enable the monetary department to hike interest rate in Q4. ECB indicated that the bank will see current rate enough in December. • China Manufacturing PMI fell under boom and bust line at 59.5.   Iron Ore Key Indicators: …

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