Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 17/04/24

Verdict- Neutral to Bullish. DCE Sep24 reversed the correction and created periodic high. Hourly MACD created gold cross. Hourly CCI entered bullish territory. Hourly slow stochastic KD was approaching overbought area. Iron ore was in acceleration phase. However be aware of the taking gains by looking at open interest movement. First support 847.0. First resistance …

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Daily Virtual Steel Mill Report 17/04/24

Verdict: • Short-run Neutral.   Macro: • Vale’s Q1 iron ore production was 70.837 million tons, a decrease of 20.8% month on month and a year-on-year increase of 6.1%. In the first quarter, the sales of iron ore were 63.83 million tons, a decrease of 29.3% compared to the previous quarter and a year-on-year increase …

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Iron Ore DCE Sep24 Daily Technical Review 16/04/24

Verdict- Neutral. DCE Sep24 corrected during the trading day, after when we mentioned be aware of market change yesterday. Hourly MACD widened in bearish territory. Hourly CCI entered bearish territory. As said in the last article, iron ore growth shouldn’t be sustainable because the past rebound witnessed 20% of OI loss from April 1st, which …

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