Category archives: News

Iron Ore DCE Jan25 Daily Technical Review 01/08/24

Verdict- Neutral to Bullish. DCE iron ore Jan25 rebounded as expected. Hourly MACD widened in bullish territory. Hourly slow stochastic KD approached bullish territory. Hourly CCI tried to breakthrough the boundary of bull and neutral area. Iron ore would accelerate the growth if breakthrough next resistance at 774.0.   First support 732.0. First resistance 774.0 …

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Daily Virtual Steel Mill Report 01/08/24

Verdict: • Short-run Neutral.   Macro: • The US Federal Reserve ended its two-day monetary policy meeting on July 31st and announced that the target range for the federal funds rate would remain unchanged between 5.25% and 5.5%. Federal Reserve Chairman Powell stated after the meeting that there is a possibility to discuss lowering policy …

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