Tag archives: IO

A Room with a Technical View 16/05/22

Capesize June Futures – Last week we noted that the RSI on the 4-hour chart had produced a negative divergence, warning of the potential for a momentum slowdown, with downside moves below USD 36,500 indicating the futures had entered a corrective phase. We also noted that any corrective move lower had the potential to be …

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Iron Ore DCE September Daily Technical Review 16/05/22

Verdict – Short-term neutral to bullish.   DCE iron ore September contract picked up during the last half-hour before closing. The high of day was slight lower than the import resistance level at 839.0. From hourly chart, MACD narrowed above 0 axis. Hourly CCI created lower highs from May 11th. Iron ore needs to breakthrough …

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Daily Virtual Steel Mill Report 16/05/22

Market Verdict on Iron Ore： • Neutral.   Macro • China lowered the mortgage rate for homebuyers and announced a phased reopening of shops in Shanghai due this Monday. The China Central Bank PBOC on Sunday cut the lower-bound range of mortgage interest rates from 4.6% to 4.4%. • IEA expected that the global crude …

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Daily DCE Review 13/05/22

Iron ore futures ended the week on gains, despite dipping the morning session then only to rebound in the afternoon trading session. The futures of Dalian Commodity Exchange (DCE) then hiked slightly by 0.98% day-on-day or up RMB 8 to RMB 823/mt, during the day trading session on Friday. The rebar futures also climbed by …

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Iron Ore DCE September Daily Technical Review 13/05/22

Verdict – Short-term neutral.   DCE iron ore September contract as expected maintained a wide-range movement during the week. If a breakthrough on 839.0 with growing volume, iron ore will potentially enter an accelerated rebound phase. Otherwise, a breakdown on important level from 780.0 – 783.0 would indicate a return to bear. Hourly MACD created …

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Daily Virtual Steel Mill Report 13/05/22

Market Verdict on Iron Ore： • Neutral.   Macro • The US Senate on Thursday approved Powell’s second four-year term as the chairman of Federal Reserve. Powell reiterated his expectation that the Fed would raise interest rates by 50 basis points in the next two FOMC meetings, and promised to take more actions if the …

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