Verdict – Short-term neutral. DCE iron ore September tested high however rejected below important resistance at 694.5. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD corrected after dead cross below overbought area. Short-run neutral. The first support is 650.0. The first resistance is 694.5.
Tag archives: IO
Daily Virtual Steel Mill Report 19/07/22
Market Verdict on Iron Ore： • Neutral. Macro • Reuters news indicated a letter from Gazprom had announced force majeure to at least one of its clients on the natural gas supply. U.S. white house predicted that OPEC + would increase oil supply after the talk between Joseph Biden and the middle-east countries. …
European Close 18/07/22
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London Iron Ore Report 18/07/22
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A Room with a Technical View 18/07/22
Capesize August Futures – Technically bullish last week but buy-side momentum had stalled due to the lack of trend in the market, the futures traded below the base of the 3-river morning star pattern but held above the USD 25,437 support. Price has since traded above the USD 29,500 and USD 30,250 fractal resistance levels, …
Singapore Iron Ore Derivatives Report 18/07/22
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Iron Ore Offshore August 22 Morning Technical Comment – 240 Min Chart 18/07/22
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Iron Ore DCE September Daily Technical Review 18/07/22
Verdict – Short-term neutral to bullish. DCE iron ore September recovered the loss from previous trading day, following the rebound of all commodities, after a clearly oversold sentiment priced-in the market over last week. If a breakthrough on 695.0, iron ore potentially maintain the fast rebounding. Otherwise, iron ore potentially enter a narrowing consolidation …
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Daily Virtual Steel Mill Report 18/07/22
Market Verdict on Iron Ore： • Neutral. Macro • China June excavators working hours at 95.2 hours, down 8.1% on the month, down 13.1% on the year. Japan June working hours at 49.3 hours, up 18.2% on the month, down 4.7% on the year. Europe June working hours at 75.6 hours, down 0.3% on …
Iron Ore Rebounds Slightly As China Asks Banks To Support Property Sector 18/07/22
Iron ore’s brutal decline that saw it tumble nearly 15% last week has been halted, after reports emerged that China’s government has stepped in to resolve the wave of homebuyers’ defaults that sent shockwaves across the economy. Reports that authorities are weighing in and guiding banks to ease credit flows to property developers saw prices …