FIS API Blog
Verdict – Short-term neutral. DCE iron ore Jan22 refreshed listed low, however recovered half of losses during Asian afternoon following the rebound of equity market. Hourly MACD narrowed below 0 axis. Hourly slow stochastic KD created gold cross near the boundary of oversold area. Hourly CCI left bearish territory fast. Short-run technical were indicating a …
Continue reading “Iron Ore DCE Jan Daily Technical Review 10/11/21”
Market Verdict on Iron Ore： · Neutral to bearish. Macro · China October CPI up 1.5% y-o-y, est. 1.3%, last 0.7%. China October PPI 13.5% y-o-y, est. 12%, last 107% y-o-y. U.S. PPI up 8.6% y-o-y, a ten-year-high. · U.S. ADP statistics indicated jobs increased 571,000 in October, est. 400,000, which created the highest since …
Iron ore futures dipped at the close, despite a strong comeback from morning session slump, amid bearish market sentiments over low steel demand and margins. The futures of Dalian Commodity Exchange (DCE) for January delivery then inched down by 0.97% day-on-day or down RMB 5.50 to RMB 561/mt, during the day trading session on Tuesday. …
Iron ore futures booked slight gain after low opening, as trade participants were concerned over weak winter steel demand and declining exports volumes from China. The futures of Dalian Commodity Exchange (DCE) for January delivery then inched up by 1.42% day-on-day or up RMB 8 to RMB 570.50/mt, during the day trading session on Monday. …
Verdict – Short-term neutral. DCE iron ore Jan21 refreshed low again and created two consecutive correction with lower highs and lows. However the support was strong around 552.5- 557.5 area. A breakdown on this area would trigger a big correction. Otherwise iron ore expected to exhaust in the narrow area. Hourly MACD narrowed above 0 …
Continue reading “Iron Ore DCE Jan Daily Technical Review 5/11/21”
Market Verdict on Iron Ore： · Neutral. Macro · The U.S. Taper has no essential relations to interest rate increase, since Taper was focusing on less purchase on T-bonds. Some macro analysts believed that the interest rate potentially start in the Q4 of the year 2022. · China NDRC: Encouraging the China domestic iron ore …
Verdict – Short-term neutral. DCE iron ore Jan21 refreshed listed low during the last few minutes of night session yesterday. However iron ore strongly recovered this morning. DCE iron ore technically consolidate in a range box of 557.5- 597.0 area, price movement gradually slow down within this area. Hourly MACD indicated a neutral after narrowing …
Continue reading “Iron Ore DCE Jan Daily Technical Review 4/11/21”
Market Verdict on Iron Ore： · Neutral. Macro · U.S. FOMC meeting decided the market expected to start Taper during an unchanged interest rate by decreasing 15 billion U.S. dollars of T-Bond purchase per month. U.S. federal believed would support economic activities and jobs, at the same time counter against inflation risk. · U.S. ADP …
Verdict – Short-term neutral to bullish. DCE iron ore started recovery sentiments after a big slump over the past five trading days. The opening slight high last night indicated smart money was not very pessimistic on the current market. Iron ore rebound fast during the day from a negative 3% to negative 0.42% by closing. …
Continue reading “Iron Ore DCE Jan Daily Technical Review 3/11/21”
Market Verdict on Iron Ore： · Neutral. Macro · U.S. secretary of commerce Gina Raimondo said the cancellation of U.S. – E.U. metal tax would help to counter against U.S. high inflation rate. · Instituite of International Finance data indicated the interest rate undermined the new funds entry of equity sector in new emerging market, …
