Verdict – Short-term neutral. DCE iron ore January contract tested low and recovered loss fast. Hourly MACD entered bearish territory. Hourly slow stochastic KD deepened correction. Short-run technical signals were indicating an exhaustion. Trading volume narrowed significantly. Market was in a watch-and-see mode. The first support is 758.5. The first resistance is 800.0
Category archives: Technical Reports
Capesize Technical Report 29/11/22
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Supramax Dec 22 Morning Technical Comment – 240 Min 29/11/22
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Panamax Dec 22 Morning Technical Comment – 240 Min 29/11/22
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Capesize Dec 22 Morning Technical Comment – 240 Min 29/11/22
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Iron Ore Offshore December 22 Morning Technical Comment – 240 Min Chart 29/11/22
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Brent Jan 23 Morning Technical Comment – 240 Min 29/11/22
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Iron Ore DCE January Daily Technical Review 29/11/22
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebound significantly during the day with expanding new buyers built positions. However hourly chart saw four consecutive black candles, together with a narrowed MACD and dead cross in slow stochastic KD, the short-run exhaustion expected to happen. In mid-run iron ore was still in …
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Base Morning Technical Report 29/11/22
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European Close 28/11/22
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