Category archives: Ferrous

Iron Ore DCE September23 Daily Technical Review 04/05/22

Verdict- Neutral. DCE Sep23 contract corrected during the day, majorly impacted by the weak sentiment in commodity market. Iron ore once broke important support at 698.5, however quickly recovered. If a breakdown on current level by 698.0- 700.0 in next few trading sessions, iron ore potentially return to bearish trend in mid-run. Hourly slow stochastic …

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Daily Virtual Steel Mill Report 04/05/22

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. Federal increased interest rate by 25 bps to 5.00% – 5.25% area as previous expectation. However the conference didn’t mention “ a further interest hike”, which was read as federal would stop interest hike. • IMF published “Economic Outlook for Asia and Pacific report”, …

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Iron Ore DCE September23 Daily Technical Review 28/04/22

Verdict- Neutral. DCE Sep23 contract rebounded slightly as expected. However iron ore is expected to enter a quite week due to upcoming holidays next week. Hourly slow stochastics created two lower dead crosses in neutral area. Hourly CCI approached the boundary of bearish territory. Hourly MACD narrowed above 0 axis. First support 698.5. First resistance …

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