FIS API Blog
Verdict – Short-term neutral to bullish. DCE iron ore January contract tested low and rebounded. Intra-day refreshed a periodic high with slight improving trading volume. Hourly MACD in slight bearish territory. However daily MACD moved aggressively in bullish territory. Both short-run and mid-run technical signals were indicating a rebound in the aftermarket. The first support …
Continue reading “Iron Ore DCE January Daily Technical Review 17/11/22”
Market Verdict on Iron Ore： • Neutral. Macro: • UK CPI up 11.1% in October, refreshed the highest since 1982, est. 10.7%, last 10.1%. • U.S. November NAHB housing index at 33, refreshed new low since April 2020, est. 36, last 38. Iron Ore Key Indicators: • Platts62 $98.10, +2.40, MTD $89.25. Iron …
Verdict – Short-term neutral to bullish . DCE iron ore January contract broke the highs of last two trading days, returning to bullish tunnel. However hourly MACD consolidated around 0 axis. Hourly slow stochastic KD potentially create dead cross in overbought area. Iron ore maintain in the ascending tunnel. A breakthrough on 745.5 would indicate …
Continue reading “Iron Ore DCE January Daily Technical Review 16/11/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • U.S. PPI up 0.2% in October from September, est. up 0.4%. October PPI up 8% on the year, est. up 8.3%. Core PPI up 6.7% on the year, est. 7.2%. • U.K. P.M. Rishi Sunak announced to increase the minimum wage from GBP9.5 …
Verdict – Short-term neutral. DCE iron ore January contract slight rebounded but as expected failed to create effective breakthrough. The open interest continuous to climb with narrowed trading volume. Hourly CCI corrected in neutral area. Hourly MACD fell under 0 axis. Hourly candles were indicating a lower top. Technical signals were indicating and exhaustion in …
Continue reading “Iron Ore DCE January Daily Technical Review 15/11/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro： • OPEC decreased the oil market demand for the fifth time in 2022 since April. The OPEC expected the oil demand in 2022 at 2.55 million barrels/day, down 100,000 barrels/day from last report. • China Tianjin published 14 detailed practices to support automobile consumption. …
Verdict – Short-term neutral. DCE iron ore January contract saw periodic top pattern. Iron ore saw a long-run resistance line connecting 755.0, 745.5 and 735.0. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross above overbought area. Iron ore in mid-run still maintained in an ascending tunnel. The first …
Continue reading “Iron Ore DCE January Daily Technical Review 14/11/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro： • European Commission sent the Autumn economy outlook 2022, expected the GDP growth in 2022 at 3.3% in EU, GDP growth in 2023 at 0.3%. The report expected the inflation rate in EU countries in 2022 and 2023 at 9.3% and 7% respectively. • …
Verdict – Short-term neutral to bullish. DCE iron ore January contract saw a big spike with 40% bigger volume and significant new built new long positions in the market. Hourly MACD entered bullish territory. Hourly slow stochastic KD potentially create dead cross below overbought area. Short-run iron ore potentially extend the rebound in an ascending …
Continue reading “Iron Ore DCE January Daily Technical Review 11/11/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • U. S. October CPI up 7.7%, lower than 8.2% at September, lower than expected. created the smallest since January 2022. U. S. stock index and industrial commodities rebound following the news. 10-Year Note yield fell below 4%. Investors expected a slowdown on interest …
