Tag archives: IO

Iron Ore DCE May23 Daily Technical Review 07/03/22

Verdict – Short-term neutral DCE iron ore May23 contract increased significantly during the day. Hourly slow stochastic KD approahed overbought area after gold cross. Hourly MACD created gold cross. Iron ore need to breakthrough 918.5- 923.5 area, to return to bullish-run. The level 918.5 used to be an upper bound of a gap, while 923.5 …

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Daily Virtual Steel Mill Report 07/03/22

Market Verdict on Iron Ore： • Neutral.   Macro： • MySteel estimated that China manufacturing orders potentially recover, while the cash flow expected to improve. Mysteel estimated the investment of manufacturing would increase by 6%. • Robert Holzmann, the ECB’s governing committee, told the German Business Daily that the ECB should raise interest rates by …

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Iron Ore DCE May23 Daily Technical Review 06/03/22

Verdict – Short-term neutral. DCE iron ore May23 contract dumped by Asian morning opening, however recovered partial loss by closing. From hourly chart, MACD moved from bullish territory to bearish range. CCI however, moved back from bearish territory in the afternoon session. Iron ore needs to test important resistance at 900.0 again. The first support …

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Daily Virtual Steel Mill Report 06/03/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro： • China government work report set 5% as economy growth target in 2023 and 3% as fiscal deficit rate, which were both considered conservative from the market. The market was also focusing on the new governors lists and reform programs on institutions.   Iron …

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