Verdict- Neutral. DCE Sep24 saw exhaustion and stablised during the day. Hourly MACD potentially create gold cross in the next session. Hourly CCI entered neutral area from bearish territory. Iron ore potentially ended correction and entered consolidation period. The next important resistance is 824.5. First support 780.0. First resistance 824.5.
Tag archives: IO
Daily Virtual Steel Mill Report 12/06/24
Verdict: • Short-run Neutral. Macro: • World Bank increased global GDP growth target in 2024 from 2.4% to 2.6%. China growth rate was increased from 4.5% to 4.8%. US growth target was increased from 1.6% to 2.5%. Iron Ore Key Indicators: • Platts62 $103.80, -4.70, MTD $107.64. The general weak performance of metals …
London Iron Ore Report 11/06/24
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European Close 11/06/24
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Singapore Iron Ore Report 11/06/24
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Iron Ore Offshore July 24 Morning Technical Comment – 240 Min Chart 11/06/24
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Iron Ore DCE Sep24 Daily Technical Review 11/06/24
Verdict- Neutral to Bearish. DCE Sep24 corrected significantly during the trading day with expanding volume and growing open interest, indicating new sellers entered market. Hourly MACD created bearish divergence. Hourly slow stochastic KD created dead cross. Iron ore potentially test low in the following sessions. First support 780.0. First resistance 838.5
London Iron Ore Report 10/06/24
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004
European Close 10/06/24
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004
Singapore Iron Ore Report 10/06/24
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004