FIS API Blog
Verdict – Short-term neutral. DCE iron ore September gave back the last rebound, currently maintaining in the area from 768.0 – 817.5. A breakthrough out of this band would indicate a potential to create a direction. Otherwise, iron ore potentially exhaust and move in narrower range. Hourly MACD narrowed below 0 axis. Hourly slow …
Continue reading “Iron Ore DCE September Daily Technical Review 03/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. Federal pushed back against a narrative that policy makers are envisioning a pivot away from tightening. Four Federal distinct-bank presidents highlighted in remarks on Tuesday that there was no sign yet of inflation easing. • China July Machinery Index 96.55, down 12.18% on the …
Market Verdict on Iron Ore： • Neutral. Macro • China MIIT calculated the scrap input ratio in steelmaking reaching 15%, accounting for 180 million tons in 2025. In 2030, the ratio expected to reach 20%. • China Caixin Manufacturing PMI in July 50.4, 1.3 lower than June. U.S. Markit Manufacturing PMI 52.2, est. 52.3, …
Verdict – Short-term neutral. DCE iron ore Sep22 are rolling to Jan23, expected to finish within the week. Thus, it should be hard for September contract to attract more new buyers in the aftermarket. The contract was hit shortly after refreshing new high of the month. Hourly MACD maintained weak. Hourly slow stochastic KD …
Continue reading “Iron Ore DCE September Daily Technical Review 01/08/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China PM Li Keqiang held conference after the political conference held last week to promote investment and consumption, including acceleration on local debts, investment projects in the central budget, automobile consumption, green energy home appliances and green building materials. • China July PMI …
Verdict – Short-term neutral. DCE iron ore September corrected with both decreasing open interest and volume. Thus, iron ore potentially faces a correction or consolidation. Hourly slow stochastic KD corrected to neutral area after a dead cross created in overbought area. Hourly MACD created dead cross. The first support is 755.5. The first …
Continue reading “Iron Ore DCE September Daily Technical Review 29/07/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China and U.S. held tele-conference to discuss on the cooperation in economy development in future, and noted the tariff exemption to alleviate the inflation in U.S. Iron Ore Key Indicators: • Platts62 $117.95, +6.90, MTD $106.86. The term contract discounts for BHP’s …
Verdict – Short-term bullish. DCE iron ore September recovered loss from yesterday and refreshed new high from June 30th with expand volume. The breakthrough on resistance of 822.5 would confirm the price movement remaining strong. Otherwise, rejection would mean a considerable correction because current indicators were showing big volatilities rather than a flat structure. …
Continue reading “Iron Ore DCE September Daily Technical Review 28/07/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • U.S. Federal increased 75 basis points in last FOMC to 2.25-2.5%, as expected. • G7 revealed to set up a price-ceiling for Russian oil effective from December 5th. Iron Ore Key Indicators • Platts62 $111.05, -0.65, MTD $106.24. The term contract discounts …
Verdict – Short-term neutral. DCE iron ore September failed to break through the concentrated trading level around 750.0 by closing. Thus, iron ore potentially reached periodic high area. Slow stochastic KD created dead cross in overbought area and deepened correction. Hourly CCI created bearish divergence. Hourly MACD potentially creating dead cross. Technical signals were …
Continue reading “Iron Ore DCE September Daily Technical Review 27/07/22”
