Category archives: Technical Reports

Verdict- Neutral to Bearish. DCE active contract tested high and retreated as expected. The high of the day was slight lower than resistance at 744.0. Hourly CCI entered bearish territory. Hourly MACD flattened in bearish territory. The market would maintain slight bearish unless breakthrough the strong resistance area from 743.5 -759.5. First support 697.0. First …

Continue reading “Iron Ore DCE January24 Daily Technical Review 04/08/23”

Verdict- Neutral to Bearish. DCE active contract was rolled from Sep23 to Jan24 today, seeing a bigger trading volume and open interest in Jan24. MACD corrected in bearish territory from hourly chart. Slow stochastic KD entered bearish territory in hourly chart. Hourly CCI once tested year-low during the market hours at -362. First support 697.0. …

Continue reading “Iron Ore DCE January24 Daily Technical Review 03/08/23”

Verdict- Neutral. DCE Sep23 contract tested high and returned growth to slight lower closing compared to last trading day at 838.5. Hourly MACD flattened in bullish territory. Hourly CCI tested the bullish boundary and rejected. Iron ore potentially maintain no trend unless creating breakthrough on the range 822.5 – 849.0 in short-run. First support 822.0. …

Continue reading “Iron Ore DCE September23 Daily Technical Review 01/08/23”

Verdict- Neutral. DCE Sep23 contract once tested important support on 822.0 and rebound significantly in the late market before close. Hourly MACD narrowed in bearish territory. Hourly CCI rebounded fast. Slow stochastic KD climb up steeply after creating a gold cross in oversold area. The market was waiting for a clearer direction after a big …

Continue reading “Iron Ore DCE September23 Daily Technical Review 31/07/23”