Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 20/05/24

Verdict- Neutral. DCE Sep24 refreshed 4-months high at 906.0 and corrected sooner after that. Hourly slow stochastic KD created dead cross near the boundary of bullish area and corrected. Hourly CCI dropped from bullish territory to neutral area. Iron ore would supported by 878.5 and also see heavy resistance at 906.0. First support 878.5. First …

Continue reading “Iron Ore DCE Sep24 Daily Technical Review 20/05/24”

Daily Virtual Steel Mill Report 20/05/24

Verdict: • Short-run Neutral.   Macro: • The United Nations has released the “2024 World Economic Situation and Outlook” report, which shows that compared to January 2024, the United Nations is more optimistic about the world economic outlook and has raised its global economic growth forecast for this year from 2.4% at the beginning of …

Continue reading “Daily Virtual Steel Mill Report 20/05/24”

Iron Ore DCE Sep24 Daily Technical Review 16/05/24

Verdict- Neutral. DCE Sep24 rebounded during the day as we mentioned signals of rebound. However, from hourly chart iron ore saw three lower highs and lower lows, which created a downward trend. A reversal of this trend need to break through 890.0 – 902.0 area. Hourly MACD widened in bullish area. Hourly slow stochastic KD …

Continue reading “Iron Ore DCE Sep24 Daily Technical Review 16/05/24”