Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 08/05/24

Verdict- Neutral to Bearish. DCE Sep24 corrected in the last hour with escaping long positions. Hourly MACD widened in bearish territory. Hourly CCI entered bearish territory. Hourly slow stochastic KD corrected after a dead cross in overbought area. Short-run signals indicating a potential correction in further sessions. First support 846.5. First resistance 876.0.  

Daily Virtual Steel Mill Report 08/05/24

Verdict: • Short-run Neutral to Bearish.   Macro: • The European stock market hit a record high, with strong performance from UBS and UniCredit, boosting optimism about interest rate cuts. The STOXX 600 index rose 1.1%, marking its best daily performance in over three months. The Spanish stock index rose 1.5%. The French stock CAC-40 …

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