FIS API Blog
Verdict – Short-term neutral. DCE iron ore May23 contract broke important resistance at 841.5, refreshed periodic high at 847.0 during the day. However be aware of correction and test 841.5 as a support. Hourly MACD maintained in bullish territory for four trading days, iron ore maintained in bullish territory in mid-run. In short-run, iron ore …
Continue reading “Iron Ore DCE May23 Daily Technical Review 29/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • As of January 8th, the PCR test of all entry personnel in China will be cancelled. • U.S. housing growth rate decreased from 11.1% in September to 9.8% in October, created the slowest growth rate since September 2020. Iron Ore Key Indicators: • Platts62 …
Verdict – Short-term neutral. DCE iron ore May23 contract was closed to listed high at 841.5, then corrected during the day session. Iron ore became volatile after breakthrough 800.0, with expanding volume, indicated a divergence between bull and bear camps. Hourly slow stochastic KD started correction after a dead cross created in overbought area. Iron …
Continue reading “Iron Ore DCE May23 Daily Technical Review 16/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • ECB: Estimated GDP growth in 2022 at 3.4%, est. 3.1%. GDP growth in 2023 at 0.5%, est. 0.9%. GDP growth in 2024 at 1.9%, est. 1.9%. • Dow Jones Index created the biggest single day correction over last three month. U.S. November retail sales drop …
Verdict – Short-term neutral to bullish. DCE iron ore May23 contract returned to bullish tunnel after broke previous high at 823.0. Hourly slow stochastic KD created three higher gold cross, approaching overbought area. Hourly MACD widened in bullish territory. Short-run technical signals were indicating a potential to test highs in the next few sessions. The …
Continue reading “Iron Ore DCE May23 Daily Technical Review 15/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • The U.S. Federal Reserve raised interest rates by 50 basis points in the last FOMC in 2022 as expected, and the benchmark interest rate rose to a new 15 year high of 4.25% – 4.5%, and reiterated that it was “possible” and appropriate to continue …
Verdict – Short-term neutral. DCE iron ore May23 contract consolidated and closed at same level as yesterday as expected from last report. Hourly CCI entered bullish territory. Hourly MACD narrowed above 0 axis. The first support is 789.0. The first resistance is 823.0
Market Verdict on Iron Ore： • Neutral. Macro: • U.S. CPI up 0.1% in November on the month, estimated up 0.3%, last 0.4%. November CPI up 7.1% on the year, created the smallest single month increase since December 2021, est. 7.3%, last 7.7%. November PCE up 6% on the year, est. 6.1%, last 6.3%. …
Verdict – Short-term neutral. DCE iron ore May23 contract tested low at 789.0, recovered loss and returned to neutral rangebound. The next resistance 823.0 used to be a roof area to reverse iron ore bullish market last time. Hourly slow stochastic KD created gold cross above 0 axis. Hourly MACD narrowed in bearish territory. The …
Continue reading “Iron Ore DCE May23 Daily Technical Review 13/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • EU planned to impose import tariffs on carbon emissions on steels, cements and polluted commodities, to support the European industries. • China PBOC(central bank): November social financing 1.99 trillion yuan, down 610.9 billion yuan on the year. M2 money supply remains at 264.7 trillion yuan, …
