Tag archives: IO

Iron Ore DCE May24 Daily Technical Review 27/02/24

Verdict- Neutral to Bullish. DCE May24 contract followed the significant rebound of China house developer equities as well as major commodities growth. Hourly CCI left neutral area and approached bullish territory. Hourly MACD created gold cross. Iron ore potentially test 915.0 as an intraday resistance with many positions built from 900.0 – 915.0 during the …

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Daily Virtual Steel Mill Report 27/02/24

Verdict: • Short-run Neutral to Bearish.   Macro: • ECB banker Christian Lagarde indicated that the 2% inflation target must be realised. ECB governor indicated the first interest cut would start in June. • Reuters: India is considering an export tax on low-grade iron ore after small steel producers urged the government to curb its …

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Iron Ore DCE May24 Daily Technical Review 26/02/24

Verdict- Neutral to Bearish. DCE May24 contract corrected massively after broke the periodic low around 885.5. Iron ore gained intra-day support at 871.0, however the short-run support should lie around 850.0. Slow stochastic KD corrected to oversold area. Hourly CCI moved in bearish territory. As said in previous reports, iron ore is facing mid-run selling …

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