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Iron Ore DCE Jan Daily Technical Review 23/8/21
Verdict – Short-term neutral. DCE iron ore January contract gave back most of gains created by last Friday. Hourly MACD weakened. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI corrected to bearish area from bullish area fast. The short support 735.0 was strong, which used to create a market reversal. However …
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China Wuxi Cobalt Index Weekly Technical Review 23/8/2021
Verdict – Short-term neutral to bullish. China Wuxi Cobalt slight rebound but in general maintained stable during the past week. However MACD is creating a gold cross. Daily slow stochastic KD created gold cross above oversold area. CCI rebounded fast to reach bullish area. A potential bottom area is created if Cobalt rebounded with volume …
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Iron Ore DCE Jan Daily Technical Review 19/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract opened low and generated a normal gap, iron ore also broke resistance at 777.5, however supported by major 750- 759.0 area. The significant increasing volume and the slight recover during last two hours were indicating iron ore potentially oversold in short-run. Hourly slow stochastic …
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Iron Ore DCE Jan Daily Technical Review 18/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract confirmed the bearish trend during this Tuesday and Wednesday. Firstly iron ore broke down the important previous support at 814.0 area, the push back after then was not strong enough to bring a higher closing above 814.0. Hourly MACD widened below 0 axis. CCI …
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Fertilizer Market Report 17/08/21
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Iron Ore DCE Jan Daily Technical Review 16/8/21
Verdict – Short-term neutral to bullish, potentially test high in next trading session. DCE iron ore January rebounded slightly following the previous prediction indicating oversold. The previous two day rebound with big volume however limited growth, indicated the rebound has some confliction. The short-run roof was close to 860.5 area, from hourly chart iron ore …
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Iron Ore DCE Jan Daily Technical Review 13/8/21
Verdict – Short-term neutral, oversold currently. DCE iron ore January created new low from March 24th. Hourly MACD flattened. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI entered neutral area from bearish area. If an effective breakthrough on 845.0 would indicate a fast rebound to approach 874.5 area. The first support …
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Morning Fuel Oil Report 13/08/21
Morning Oil Report Brent crude was down 49 cents, or 0.7%, at $70.82 a barrel by 0507 GMT, after dropping 13 cents in the previous session. U.S. crude was off by 53 cents, or 0.8%, at $68.56 a barrel, having fallen 0.2% on Thursday. The benchmarks are still heading for a slight gain this …
Tanker Morning Report 13/08/21
News Headlines: OIL DAYBOOK EUROPE: Cheap U.S. Crude Flows to Asia; Pemex Woes (Bloomberg) Asian buyers are snapping up cheap U.S. crude cargoes despite demand concerns due to the latest coronavirus resurgence, with the flurry of deals likely to be at the expense of Middle Eastern barrels. Chinese, Indian and South Korean companies …