Verdict- Neutral. DCE May24 contract traded in narrower rangebound during the day as expected. Hourly slow stochastic KD deepened correction. Hourly MACD widened slightly in bearish territory. Iron ore traders entered a watch-and-see mode, while volume and open interest both dropped. First support 941.5. First resistance 975.5.
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Daily Virtual Steel Mill Report 11/12/23
Verdict: • Short-run Neutral. Macro: • According to China NBS, China CPI in November down 0.5% on the year. PPI down 3% on the year. The decrease on both statistics are lower than expected. • The US non-farm payroll increased by 199,000 in November, with an estimated increase of 183,000, compared to a previous …
FIS Fertilizer Market Report 08/12/23
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FIS Technical – Brent Feb 24 08/12/23
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Panamax Jan 24 Morning Technical Comment – 240 Min 08/12/23
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Capesize Jan 24 Morning Technical Comment – 240 Min (outright) 08/12/23
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Iron Ore Offshore Jan 24 Morning Technical Comment – 240 Min Chart 08/12/23
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Brent Feb 24 Morning Technical Comment – 240 Min 08/12/23
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Base Morning Technical Report 08/12/23
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Iron Ore DCE May24 Daily Technical Review 08/12/23
Verdict- Neutral. DCE May24 contract retreated from periodic high at 975.5. The fast correction was related to taking gains. The next support band located from 941.5- 950.0 area. Hourly MACD narrowed above bullish territory. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI dropped from bullish territory to neutral area. First support …
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