Tag archives: IO

Iron Ore DCE January Daily Technical Review 30/11/22

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

Daily Virtual Steel Mill Report 30/11/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro: • Germany October CPI up 10% on the year, lower than estimated 10.4%. • China November official PMI 48, est. 49, last 49.2.   Iron Ore Key Indicators: • Platts62 $101.25, +2.35, MTD $92.88.China CSRC reopened the refinancing of property companies, the continuous sentiment …

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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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Daily Virtual Steel Mill Report 29/11/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro: • China CSRC spokesman supported the refinancing function of properties and related listed companies. • China NBS: China industrial valued added amount above designated scale reached 6.98 trillion yuan from January to October, down 3% on the year. The ferrous metallurgical industries down 92.7% …

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