Category archives: Ferrous

Iron Ore DCE September Daily Technical Review 17/06/22

Verdict – Short-term bearish.   Iron ore corrected as expected, the low open created a gap from the low of yesterday, which become a mid-run resisting area. Iron ore refreshed the biggest single day correction since April 25th. Hourly MACD corrected below 0 axis. Hourly slow stochastic KD approached oversold area. Hourly CCI approached bearish …

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Daily Virtual Steel Mill Report 17/06/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. White House officials were discussing to restrict fuel oil export, to control petroleum price below $5/gallon. Russian PM revealed that Russia would not reduce oil production. • BOE increased interest rate by 25bp to 1.25%, refreshed the highest since January 2009. • China NDRC …

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Iron Ore DCE September Daily Technical Review 16/06/22

Verdict – Short-term bearish.   Iron ore corrected slightly as expected yesterday, the high broke important resistance however lose this level in the next half hour. Trading volume narrowed compared with yesterday, indicating there was not too much confliction on the bearish trend. Hourly MACD consolidate below 0 axis. Hourly slow stochastic flatened along the …

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