FIS API Blog
Verdict- Neutral. DCE iron ore saw correction during the trading day, the low of the day was above important support by 716.5. Iron ore should maintain neutral above 716.5 and return bearish run if broke down 716.5 by next closing. Hourly MACD created dead cross. Hourly slow stochastic KD reached oversold area. First support 716.5. …
Continue reading “Iron Ore DCE Jan25 Daily Technical Review 23/08/24”
Verdict: • Short-run Neutral. Macro: • Last week, the number of initial jobless claims in the US was 232,000, est. 230,000, last revised from 227,000 to 228,000. • World Steel Association: In July 2024, the crude steel production of 71 countries included in the World Steel Association’s statistics was 152.8 million tons, a year-on-year …
Verdict- Neutral. DCE iron ore saw a correction during the day. Hourly MACD narrowed in bullish territory. Hourly CCI corrected from bullish area to neutral area. Slow stochastic KD created dead cross in overbought area. If standing on 716.0, iron ore potentially see chances of next rebound. First support 716.5. First resistance 747.5.
Verdict: • Short-run Neutral to Bullish. Macro: • According to US Federal notes overnight, the Federal expected to cut interest rate once in September, and one more cut in late 2024. The Federal expected an ease monetary condition in 2025. Iron Ore Key Indicators: • Platts62 $97.90, +2.80, MTD $98.33. As we expected …
Verdict- Neutral to Bullish. DCE iron ore maintained bullish as expected. Hourly MACD widened in bullish territory. Hourly slow stochastic KD created three higher gold crosses from August 15th and reached overbought area. Hourly CCI reached bullish territory. Iron ore potentially extend bullish sentiment in next session. First support 716.5. First resistance 788.5.
Verdict: • Short-run Neutral to Bullish. Macro: • Goldman Sachs indicated that China crude oil demand in 2025 should maintain stable, estimated crude oil price at $68/b. Iron Ore Key Indicators: • Platts62 $95.10, +0.65, MTD $98.36. The physical iron ore market became active from this week, eyeing significant growth of discount cargoes …
Please click below to view the report For more information, please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004
Verdict- Neutral to Bullish. DCE iron ore rebounded during the day. If a breakthrough on 725.5 level, iron ore will potentially see a fast rebound. Otherwise iron ore largely maintain 688.5- 725.5 area. Hourly MACD widened in bullish area. Hourly CCI approached bullish area. Both open interest and volume decreased. However the technical signals indicated …
Continue reading “Iron Ore DCE Jan25 Daily Technical Review 19/08/24”
Verdict: • Short-run Neutral. Macro: • China Ministry of Commerce and seven other departments increased subsidy standards for scrapped automobiles, and raised the subsidy standards for purchasing new energy passenger vehicles and fuel passenger vehicles to 20,000 yuan and 15,000 yuan from 10,000 yuan and 7,000 yuan respectively. • Mining group BHP Billiton announced …
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004
