Category archives: Ferrous

Iron Ore DCE January24 Daily Technical Review 12/09/23

Verdict- Neutral. DCE Jan24 contract rebounded by 1.96% based on the last settlement price. Hourly MACD widened in bullish territory. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI corrected from bullish area to neutral area. Short-run technical was indicating an exhaustion approaching important resistance level at 865.5. Thus, a breakthrough on …

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Daily Virtual Steel Mill Report 12/09/23

Verdict: • Short-run Neutral to bullish.   Macro: • ECB predicted Euro Zone GDP growth by 0.8% in 2023 on the year, up 1.3% in 2024, lower than expected 1.1% and 1.6% respectively from last time.   Iron Ore Key Indicators: • Platts62 $120.65, +3.85, MTD $118.65. Although the primary market of seaborne iron ore …

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Iron Ore DCE January24 Daily Technical Review 11/09/23

Verdict- Neutral. DCE Jan24 contract rebounded significantly with growing open interests, symbolising the entrance of new buyers. Hourly MACD returned to bullish territory. Hourly slow stochastic KD approached overbought area. Hourly CCI entered bullish area. In mid-run, a recovery on 865.5 would indicate the market return to bullish run. First support 826.5. First resistance 865.5. …

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