Tag archives: IO

Iron Ore DCE January Daily Technical Review 29/11/22

Verdict – Short-term neutral to bullish. DCE iron ore January contract rebound significantly during the day with expanding new buyers built positions. However hourly chart saw four consecutive black candles, together with a narrowed MACD and dead cross in slow stochastic KD, the short-run exhaustion expected to happen. In mid-run iron ore was still in …

Continue reading “Iron Ore DCE January Daily Technical Review 29/11/22”

Daily Virtual Steel Mill Report 29/11/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro: • China CSRC spokesman supported the refinancing function of properties and related listed companies. • China NBS: China industrial valued added amount above designated scale reached 6.98 trillion yuan from January to October, down 3% on the year. The ferrous metallurgical industries down 92.7% …

Continue reading “Daily Virtual Steel Mill Report 29/11/22”

A Room with a Technical View 28/11/22

Capesize Dec Futures – Technically bearish last week, the divergence with the RSI warned that we had the potential to see a momentum slow down soon. The futures moved higher, above the USD 10,604 and USD 11,675 resistance levels, meaning we are now in bullish territory. Downside moves that hold at or above USD 9,842 …

Continue reading “A Room with a Technical View 28/11/22”

Iron Ore DCE January Daily Technical Review 28/11/22

Verdict – Short-term neutral. DCE iron ore January contract was traded in huge range during the day. The two rounds of intra-day rebound were rejected below 764.5, periodic high. The low 743.0 was also the important support of late half of last week. Hourly slow stochastic retreated from overbought area to neutral area. Hourly CCI …

Continue reading “Iron Ore DCE January Daily Technical Review 28/11/22”

Daily Virtual Steel Mill Report 28/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • German Prime Minister Olaf Scholtz insisted on the ban on Russian oil at the end of this year. The German government plans to levy a profit tax of up to 33% on traditional fossil energy companies such as natural gas, oil and coal. • China …

Continue reading “Daily Virtual Steel Mill Report 28/11/22”