Category archives: Ferrous

Iron Ore DCE May Daily Technical Review 14/1/22

Verdict – Short-term bearish. DCE iron ore May22 corrected weakly during the day. The daily support fell on 713.0 – 714.0. Hourly MACD deepened correction. Hourly slow stochastic KD approached oversold area. Hourly CCI consolidated near bearish territory. Short-run correction if seeing lower lows and highs. The first support is 693.0, the first resistance is …

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Daily Virtual Steel Mill Report 14/1/22

Daily Virtual Steel Mill Report 14/1/22 Market Verdict on Iron Ore： • Neutral to bearish. Macro • U.S. Federal official Harker indicated that the Federal potentially increase interest rate by 25 basis points after decreasing the debt purchase in March. • Chinese Academy of Science estimated that China GDP growth rate in the year 2022 …

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Iron Ore Offshore Feb 22 Morning Technical Comment – 240 Min Chart 13/01/22

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Iron Ore DCE May Daily Technical Review 13/1/22

Verdict – Short-term bearish. DCE iron ore May22 contracted gave back all gains created overnight during the afternoon. If a breakdown on 722.0 during the day, iron ore potentially will accelerate the correction. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross on overbought area. Hourly CCI corrected from bullish territory to …

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Daily Virtual Steel Mill Report 13/1/22

Market Verdict on Iron Ore： • Neutral to bearish. Macro • U.S. December CPI up 7% y-o-y, created the highest since June, 1982. DXY corrected massively from 95.61 to 94.9, which supported U.S. dollar linked commodities and triggered a big rebound shortly across commodity sector. Iron Ore Key Indicators: • Platts62 $131.60, +3.00, MTD $126.12. …

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