Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 08/04/24

Verdict- Neutral to Bullish. DCE Sep24 contract rebounded massively during the day and breakthrough important resistance at 780.0 and 800.0. In short-run maintain the rebound view. Hourly MACD widened in bullish territory. Hourly CCI rebounded to bullish territory. The huge spike was contributed by fast taking gains to cover short positions. First support 742.0. First …

Continue reading “Iron Ore DCE Sep24 Daily Technical Review 08/04/24”

Daily Virtual Steel Mill Report 08/04/24

Verdict: • Short-run Neutral.   Macro: • The employment growth in the US in March far exceeded expectations, and wages steadily increased, indicating a stable economic performance at the end of the first quarter, which may cause the Federal Reserve to delay the expected interest rate cut. The highly anticipated employment report on Friday also …

Continue reading “Daily Virtual Steel Mill Report 08/04/24”