Verdict – Short-term neutral. DCE iron ore September tested high however rejected below important resistance at 694.5. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD corrected after dead cross below overbought area. Short-run neutral. The first support is 650.0. The first resistance is 694.5.
Category archives: Ferrous
Daily Virtual Steel Mill Report 19/07/22
Market Verdict on Iron Ore： • Neutral. Macro • Reuters news indicated a letter from Gazprom had announced force majeure to at least one of its clients on the natural gas supply. U.S. white house predicted that OPEC + would increase oil supply after the talk between Joseph Biden and the middle-east countries. …
Evening Steel and Scrap Report – 18/07/22
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European Close 18/07/22
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London Iron Ore Report 18/07/22
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A Room with a Technical View 18/07/22
Capesize August Futures – Technically bullish last week but buy-side momentum had stalled due to the lack of trend in the market, the futures traded below the base of the 3-river morning star pattern but held above the USD 25,437 support. Price has since traded above the USD 29,500 and USD 30,250 fractal resistance levels, …
Singapore Iron Ore Derivatives Report 18/07/22
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Iron Ore Offshore August 22 Morning Technical Comment – 240 Min Chart 18/07/22
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Morning Steel and Scrap Report 18/07/22
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Iron Ore DCE September Daily Technical Review 18/07/22
Verdict – Short-term neutral to bullish. DCE iron ore September recovered the loss from previous trading day, following the rebound of all commodities, after a clearly oversold sentiment priced-in the market over last week. If a breakthrough on 695.0, iron ore potentially maintain the fast rebounding. Otherwise, iron ore potentially enter a narrowing consolidation …
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