Verdict- Neutral. Iron ore corrected after testing high. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI corrected from bullish territory to neutral area. Hourly MACD narrowed in bullish area. Iron ore potentially regain support if not breaking down 791.0 level. First support 791.0. First resistance 830.0.
Category archives: Ferrous
Daily Virtual Steel Mill Report 27/06/24
Verdict: • Short-run Neutral. Macro: • US new house sales down 11.3% in May, refreshed six-month low because of the high mortgage rate. The new house supplies refreshed 16-year-high. • From January to May, China industrial enterprises above designated size value added amount reached 2.75 trillion yuan, up 3.4% on the year. Iron …
European Close 26/06/24
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London Iron Ore Report 26/06/24
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Singapore Iron Ore Report 26/06/24
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Iron Ore Offshore July 24 Morning Technical Comment – 240 Min Chart 26/06/24
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Iron Ore DCE Sep24 Daily Technical Review 26/06/24
Verdict- Neutral to Bullish. Iron ore closed higher for the second trading day, and previous resistance level 796.0 became new support. Hourly MACD widened in bullish territory. Hourly CCI created listed high. Iron ore potentially test high in the next few sessions. First support 796.0. First resistance 840.0.
Daily Virtual Steel Mill Report 26/06/24
Verdict: • Short-run Neutral. Macro: • US Federal governor Miki Bowman said the earliest interest cut would be in 2025 concerning the high inflation rate. However, the other governor Lisa Cook indicated the inflation went down in March and June, the interest cut in 2024 would be propriate. Iron Ore Key Indicators: • …
European Close 25/06/24
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London Iron Ore Report 25/06/24
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