Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 15/05/24

Verdict- Neutral. DCE Sep24 corrected during the past trading day, however regained support at 851.0 level. Hourly slows stochastic KD created gold cross above oversold area. Hourly CCI return to neutral area. Hourly MACD widened in bearish territory. Maintain neutral verdict in short-run as long as iron ore standing above 851.0 level. First support 851.0. …

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Daily Virtual Steel Mill Report 15/05/24

Verdict: • Short-run Neutral to Bearish.   Macro: • US April PPI up 0.5% on the month, est. 0.3%, last 0.2%. US April PPI up 2.2% on the year, est. 2.2%, last 2.1%. • US president Joe Biden was raising levies on semi-conductors, batteries, solar cells and some critical minerals, in addition to last reported …

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Iron Ore DCE Sep24 Daily Technical Review 14/05/24

Verdict- Neutral. DCE Sep24 gave back all gains created yesterday. Iron ore still consolidate in the range from 855.0- 891.0 from April 24th. Hourly MACD created dead cross, however seeing flatter movement. Hourly slow stochastic KD corrected after a dead cross. Hourly CCI was approaching oversold boundary. Maintain neutral unless an effective breakdown on 855.0. …

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