FIS API Blog
Verdict – Short-term bearish. DCE iron ore January contract started a slump mode in the Asian afternoon session driven majorly by the consecutive limit-down on coke and coal sectors. Ferrous money outflow was significant. Iron ore technically create three black candles from hourly chart with increasing volume, indicating the correction movement potentially extend in the …
Continue reading “Iron Ore DCE Jan Daily Technical Review 21/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · China PM Li Keqiang held conference to punish illegal speculation on coal market and prevent the price transmission from commodities to downstream, and avoid cost increasing on mid-small capital company. · China Zhejiang Province downgrade the electricity consumption level from C to B, indicating the power …
Iron ore futures dipped at the close, despite opening higher at the start of the morning session due to market uncertainty over steel demand. The futures of Dalian Commodity Exchange (DCE) for January delivery then tanked by 8.70% day-on-day or down RMB 8.70 to RMB 650.50/mt, during the day trading session on Thursday. The rebar …
Iron ore futures saw slight gains, amid bearish market outlooks on reduced steel output and slow economic activities. The futures of Dalian Commodity Exchange (DCE) for January delivery then inched up slightly by 0.50% day-on-day or up RMB 3.50 to RMB 710/mt, during the day trading session on Wednesday. The rebar futures however, dropped by …
Verdict – Short-term neutral. DCE iron ore January contract tested high at 733.5 again and rejected. Iron ore overall became slight higher than previous trading day. Hourly MACD and slow stochastic both flattened. Hourly CCI entered bullish territory. Technical signals were indicating the price movement were slow and stable currently. The first support is 698.0, …
Continue reading “Iron Ore DCE Jan Daily Technical Review 20/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · China central bank PBOC held a housing and financial market conference to guide major banks managing the housing related finance and maintain a stable and healthy housing market. Evergrande default risk and spillover was in general controllable. · China National Bureau of Statistics: Q3 GDP up …
Iron ore futures rebounded from recent losses, due to lower shipments from miners based in Australia and Brazil. The futures of Dalian Commodity Exchange (DCE) for January delivery then inched up slightly by 0.07% day-on-day or up RMB 0.50 to RMB 707/mt, during the day trading session on Tuesday. The rebar futures also rose by …
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Verdict – Short-term neutral. DCE iron ore January contract tested monthly low and recover fast to neutral area. If a new breakdown on the low of 686.0, iron ore potentially return to bear market in mid-run. Hourly iron ore was stuck in a correction phase because the highs of the descending tunnel were becoming lower. …
Continue reading “Iron Ore DCE Jan Daily Technical Review 18/10/21”
Market Verdict on Iron Ore： · Neutral. Macro · China central bank PBOC held a housing and financial market conference to guide major banks managing the housing related finance and maintain a stable and healthy housing market. Evergrande default risk and spillover was in general controllable. · China National Bureau of Statistics: Q3 GDP up …
