Tag archives: IO

Iron Ore DCE January Daily Technical Review 23/11/22

Verdict – Short-term neutral to bullish. DCE iron ore January contract opened low and closed high, the loss was majorly recovered during afternoon session. The contract resisted by 747.5, a second high periodically. The lower supported by 714.0. Hourly slow stochastic KD created gold cross above oversold area. Short-run technicals indicated a continious rebound potentially. …

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Daily Virtual Steel Mill Report 23/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • OECD predicted that the global economy growth rate could slow down from 3.1% to 2.2% in 2023. • ECB officer Holzmann supported the interest hike of 75 bps in December.   Iron Ore Key Indicators: • Platts62 $94.20, -2.05, MTD $91.18.The seaborne market saw less …

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

Verdict – Short-term neutral. DCE iron ore January contract corrected significantly in the afternoon. In short-run iron ore reached a neckline area at 725.0- 727.0 level, a breakdown on this area would initiate a potential drop targeting 697.0-700.0 area. Iron ore entered oversold area from hourly CCI. Hourly MACD widened below 0 axis. The first …

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