Tag archives: IO

Iron Ore DCE Sep24 Daily Technical Review 17/06/24

Verdict- Neutral. DCE Sep24 corrected significantly during the trading day. Hourly MACD created dead cross. Hourly CCI approached oversold area after a dead cross. CCI reached the boundary of bearish territory. The technical chart indicated iron ore potentially build a second low after June 13th. Standing on last low at 797.0 would mean iron ore …

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Daily Virtual Steel Mill Report 17/06/24

Verdict: • Short-run Neutral.   Macro: • China M2 for May up 7.0% on the year, M1 down 4.2% on the year. M2- M1 spread widened to 11.2%, refreshed the highest since January 2022. • China May Industrial Value Added Amount above designated scale up 5.6%, last 6.7%.China May House developing investment down 10.1%, last …

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Iron Ore DCE Sep24 Daily Technical Review 14/06/24

Verdict- Neutral to Bullish. DCE Sep24 rebounded as we expected, with expanding volume and decreasing open interest. The intra-day closing broke through 824.5, considered as a return to bullish in short-run. MACD widened in bullish territory. Hourly CCI approached bullish territory. The market potentially test high in next session. First support 818.0. First resistance 838.5. …

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