Tag archives: IO

Iron Ore DCE May23 Daily Technical Review 01/03/22

Verdict – Short-term neutral. DCE iron ore May23 contract created significant rebound during the day. However gave back some gains during last hour. Hourly MACD created gold cross. Hourly CCI entered bullish territory. In short-run iron ore test the resistance from last high at 922.0. The first support is 873.0. The first resistance is 922.0 …

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Daily Virtual Steel Mill Report 01/03/22

Market Verdict on Iron Ore： • Neutral.   Macro： • China “Two Sessions” political conference would open soon. The market was focusing on the government report, including economy target, investment confidence, market risk, jobs. • ECB economist believed that the Eurozone inflation risk started to ease, however the EBC would not end the rate hike …

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Iron Ore DCE May23 Daily Technical Review 28/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract stablised from 880.0 – 883.0 area. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD created gold cross in oversold area. Hourly CCI recovered from bearish territory to neutral area. Hourly technical indicated that iron ore regained support and potentially to test hour-level high in …

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Iron Ore DCE May23 Daily Technical Review 27/02/22

Verdict – Short-term neutral bearish. DCE iron ore May23 contract broke important support at 900.0. Hourly MACD widened in bearish area. Hourly slow stochastic KD reached oversold area after created several dead cross. Hourly CCI located in bearish territory. Hourly candles created a significant reversal pattern, which indicated the contract potential testing low in next …

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Daily Virtual Steel Mill Report 27/02/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro： • CNH and CNY depreciated to 6.98 and 6.96 respectively, both refreshed new highs in 2023. • U.S. January PCE up 0.6% on the year, refreshed the biggest increase since August 2022, est. 0.4%, last 0.3%.   Iron Ore Key Indicators: • Platts62 $126.65, …

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