Tag archives: IO

Iron Ore DCE September23 Daily Technical Review 25/05/23

Verdict- Neutral. DCE Sep23 contract consolidated during the trading day. The low of the day once broke the long-run support at 675.5, however recovered fast after the test low. The high of day reached 695.0, which was still far from 700.0. Hourly MACD narrowed below oversold area. Hourly slow stochastic KD brewing breakthrough in oversold …

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Daily Virtual Steel Mill Report 25/05/22

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. Markit May PMI 48.5, less than expected 50, refreshed the lowest of last three months. Eurozone PMI May at 44.6, last 45.8. • The third round of negotiations between the White House and Congressional leadership continued with no resolution, although both sides described that …

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Iron Ore DCE September23 Daily Technical Review 24/05/23

Verdict- Neutral to bearish. DCE Sep23 contract corrected significantly during the trading day, impacted by the macro crush on secondary market. Hourly MACD widened in bearish territory. Hourly slow stochastic KD deepened correction. If a holding up on last periodic low at 675.5, then potentially see rebound. First support 675.5. First resistance 700.0.  

Daily Virtual Steel Mill Report 24/05/22

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. Markit May PMI 48.5, less than expected 50, refreshed the lowest of last three months. Eurozone PMI May at 44.6, last 45.8. • The third round of U.S. Debt ceiling negotiations between the White House and Congressional leadership continued with no resolution, although both …

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