Tag archives: IO

Iron Ore DCE September23 Daily Technical Review 09/05/23

Verdict- Neutral. DCE Sep23 contract corrected slightly during the trading day. Hourly CCI fell from overbought area. Hourly slow stochastic KD created dead cross above overbought area. In short-run, iron ore indicators suggesting an exhaustion on the rebound. However md-run rebound was still solid unless breaking down 700.0. First support 700.0. First resistance 728.5.  

Daily Virtual Steel Mill Report 09/05/23

Market Verdict on Iron Ore： • Neutral to bullish.   Macro： • In the first four months, China imported 385 million tons of iron ore, an increase of 8.6% y-o-y, and the average import price (the same below) was 781.4 yuan per ton, a decrease of 4.6%. China imported 179 million tons of crude oil, …

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Iron Ore DCE September23 Daily Technical Review 08/05/22

Verdict- Bullish. DCE Sep23 contract accelerated after recovered important resistance at 698.5- 700.0 area. A further breakthrough on next resistance at 723.0 level would confirm a reverse of a market bottom area in mid-run. Hourly CCI entered bullish territory. Hourly slow stochastic KD entered overbought area. Short-run indicators were suggesting a rebound in continuation. First …

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Daily Virtual Steel Mill Report 08/05/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro： • The unemployment rate of U.S. has fallen to its lowest level in over 50 years, which is 3.4%. In April, non-farm employment increased by 253,000 files, but the job growth in February and March was 149,000 fewer than previously reported. The average hourly …

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