Tag archives: IO

Iron Ore DCE January24 Daily Technical Review 11/09/23

Verdict- Neutral. DCE Jan24 contract rebounded significantly with growing open interests, symbolising the entrance of new buyers. Hourly MACD returned to bullish territory. Hourly slow stochastic KD approached overbought area. Hourly CCI entered bullish area. In mid-run, a recovery on 865.5 would indicate the market return to bullish run. First support 826.5. First resistance 865.5. …

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Daily Virtual Steel Mill Report 11/09/23

Verdict: • Short-run Neutral.   Macro: • China Newspaper saw credit growth rebound in August, when policy makers are likely to use RRR cuts and other financial tools to flexibly maintain at low cost funding to the banking system. • Guangzhou, China scrapped price limit on new homes by decreasing the mortgage rate at Loan …

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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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