Daily Virtual Steel Mill Report 05/01/24

Verdict: • Short-run Bearish.   Macro: • The United Nations released the “World Economic Situation and Prospects 2024”: Global economic growth is expected to slow down from 2.7% in 2023 to 2.4% in 2024. At the same time, the report predicts that global inflation will fall further, from 5.7% in 2023 to 3.9% in 2024. …

Iron Ore DCE May24 Daily Technical Review 04/01/24

Verdict- Be Aware of Market Reversal. DCE May24 contract corrected after saw the high created last morning. From hourly chart, MACD created dead cross. Slow stochastic KD corrected after the dead cross in overbought area. The current technical signals were indicating an exhaustion at absolute high level, be aware of taking gains or sharp reversal. …