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Category archives: Ferrous
Iron Ore Offshore Feb 24 Morning Technical Comment – 240 Min Chart 04/01/24
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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. …
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Daily Virtual Steel Mill Report 04/01/24
Verdict: • Short-run Neutral to Bearish. Macro: • The minutes of the Federal Reserve meeting showed the interest rate hike cycle that began in 2022 potentially have ended, and the federal funds rate should peaked. Interest cuts are expected to come before the end of 2024. Iron Ore Key Indicators: • Platts62 $143.95, …
European Close 03/01/23
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London Iron Ore Market Report 03/01/24
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Iron Ore Market Daily Report 03/01/24
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Steel and Scrap Report 03/01/24
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Iron Ore Offshore Feb 24 Morning Technical Comment – 240 Min Chart 03/01/24
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Iron Ore DCE May24 Daily Technical Review 03/01/24
Verdict- Be Aware of Market Reversal. DCE May24 contract created new high, with expanding volume. Hourly CCI entered neutral area. Hourly slow stochastic KD created dead cross in overbought area. Hourly MACD narrowed in bullish area. First support 950.0. First resistance 1050.0.