Iron Ore DCE January24 Daily Technical Review 23/08/23

Verdict- Neutral. DCE Jan24 contract created five-month high in early morning however corrected half of gains in the rest of day. The resistance of 836.5, listed high, was effective in short-run. Hourly MACD widened in bullish area. Hourly CCI corrected from bullish area to neutral area. Hourly slow stochastic KD created dead cross in overbought …

Daily Virtual Steel Mill Report 23/08/23

Verdict: • Short-run Neutral.   Macro: • A package of preferential tax policies to support healthy development of capital market is released by China, aiming to reduce tax burdens over enterprises and individuals.   Iron Ore Key Indicators: • Platts62 $113.30, +2.95, MTD $106.43. The high production of steels, low port inventories and deliveries are …