Tag archives: IO

Iron Ore DCE January24 Daily Technical Review 08/09/23

Verdict- Neutral. DCE Jan24 contract broke 831.0 during the day and accelerated correction as expected. The next support was 803.5, thus, iron ore potentially test low in the next session. Hourly MACD maintained at bearish area since September 4th. Hourly CCI consolidated around the boundary of bearish area and neutral area. Hourly slow stochastic KD …

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Daily Virtual Steel Mill Report 08/09/23

Verdict: • Short-run Neutral to Bearish.   Macro: • US jobless claims reached 216,000, est. 234,000, last 228,000. • Some southern cities, including the biggest city in the south, Guangzhou, China was suffering from heavy rain and floods. HKEX closed on Friday because of the extreme weather.   Iron Ore Key Indicators: • Platts62 $117.70, …

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Iron Ore DCE January24 Daily Technical Review 07/09/23

Verdict- Neutral. DCE Jan24 contract tested low hit at 831.0. A breakdown on 831.0 in next session would indicate a reversal from bullish to bearish in mid-run. Otherwise, standing on this level would maintain iron ore at neutral area. Hourly CCI entered bearish area. Hourly MACD widened in bearish territory. First support 831.0. First resistance …

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