Tag archives: IO

Daily Virtual Steel Mill Report 30/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • US jobless claims past week reached 231,000, est. 232,000, last 232,000.   Iron Ore Key Indicators: • Platts62 $101.25, +0.80, MTD $98.63. There were many fixed trades and premium concentrates traded during this week, indicating a strong restocking. Thus, price gained support from current level. MACF …

Continue reading “Daily Virtual Steel Mill Report 30/08/24”

Iron Ore DCE Jan27 Daily Technical Review 29/08/24

Verdict- Neutral to Bullish. DCE iron ore rebounded as expected. Hourly MACD created gold cross after narrowed in bearish territory. Hourly CCI entered bullish area from neutral area. Iron ore is currently on the ascending cycle of the fourth wave according to Elliot Wave Theory. The daily low fell on the same level of yesterday, …

Continue reading “Iron Ore DCE Jan27 Daily Technical Review 29/08/24”

Daily Virtual Steel Mill Report 29/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • US dollar appreciated because of technical buying. Previously, US dollar index once reached year-low. The traders were waiting for new changes on the interest cut stories.   Iron Ore Key Indicators: • Platts62 $100.45, -0.65, MTD $98.49. The seaborne iron ore trades were increased significantly yesterday. …

Continue reading “Daily Virtual Steel Mill Report 29/08/24”

Iron Ore DCE Jan27 Daily Technical Review 28/08/24

Verdict- Neutral to Bullish. DCE iron ore corrected slightly during the trading day. Hourly MACD created dead cross. Hourly CCI entered neutral area from bullish territory. Hourly slow stochastic KD started to correct after a dead cross created in bullish territory. Short-run technical signals were indicating an exhaustion on previous rebound. However we maintain bullish …

Continue reading “Iron Ore DCE Jan27 Daily Technical Review 28/08/24”