Tag archives: IO

Iron Ore DCE May23 Daily Technical Review 06/03/22

Verdict – Short-term neutral. DCE iron ore May23 contract dumped by Asian morning opening, however recovered partial loss by closing. From hourly chart, MACD moved from bullish territory to bearish range. CCI however, moved back from bearish territory in the afternoon session. Iron ore needs to test important resistance at 900.0 again. The first support …

Continue reading “Iron Ore DCE May23 Daily Technical Review 06/03/22”

Daily Virtual Steel Mill Report 06/03/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro： • China government work report set 5% as economy growth target in 2023 and 3% as fiscal deficit rate, which were both considered conservative from the market. The market was also focusing on the new governors lists and reform programs on institutions.   Iron …

Continue reading “Daily Virtual Steel Mill Report 06/03/22”

Iron Ore DCE May23 Daily Technical Review 02/03/22

Verdict – Short-term neutral. DCE iron ore May23 contract inched up, however seeing exhaustion. Hourly MACD moved flat in bullish territory. Hourly slow stochastic KD entered overbought area. A breakthrough on 922.0 would bring iron ore back to bullish trend. Otherwise, iron ore potentially consolidate in current range from 883.0 – 922.0. The first support …

Continue reading “Iron Ore DCE May23 Daily Technical Review 02/03/22”

Daily Virtual Steel Mill Report 02/03/22

Market Verdict on Iron Ore： • Neutral.   Macro： • After implementing the quantitative easing policy for nearly 10 years, the European Central Bank has accumulated 5 trillion euros (about $5.31 trillion) of bonds. At present, the ECB will begin to remove these bonds from its balance sheet at an average rate of 15 billion …

Continue reading “Daily Virtual Steel Mill Report 02/03/22”