Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 09/04/24

Verdict- Neutral to Bullish. DCE Sep24 contract rebounded as expected from the last report. A breakthrough on 819.0 potentially accelerates the growth. The intra-day high reached 817.5, which was only 1.5 yuan from the R1. Hourly MACD widened in bullish territory. Hourly slow stochastic KD reached bullish territory. First support 800.0. First resistance 819.0.  

Daily Virtual Steel Mill Report 09/04/24

Verdict: • Short-run Neutral to Bullish.   Macro: • Recently, many regions in China have introduced policies to optimize housing provident fund. The loan amount for purchasing green construction or low-energy related building increased by 400,000 yuan to 1.6 million yuan. Guangzhou increases the maximum amount of provident fund loans.   Iron Ore Key Indicators: …

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Iron Ore DCE Sep24 Daily Technical Review 08/04/24

Verdict- Neutral to Bullish. DCE Sep24 contract rebounded massively during the day and breakthrough important resistance at 780.0 and 800.0. In short-run maintain the rebound view. Hourly MACD widened in bullish territory. Hourly CCI rebounded to bullish territory. The huge spike was contributed by fast taking gains to cover short positions. First support 742.0. First …

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Daily Virtual Steel Mill Report 08/04/24

Verdict: • Short-run Neutral.   Macro: • The employment growth in the US in March far exceeded expectations, and wages steadily increased, indicating a stable economic performance at the end of the first quarter, which may cause the Federal Reserve to delay the expected interest rate cut. The highly anticipated employment report on Friday also …

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