Market Verdict on Iron Ore： · Neutral to bearish. Macro · As the Chinese domestic financial data in February exceeded expectations, the further monetary ease was expected in the near future. · A member of the Russian delegation to the Russia Ukraine negotiations, said that “substantial progress” had been made in the negotiations with Ukraine. …
Tag archives: IO62
Daily DCE Review 11/03/22
Iron ore futures rebounded by the end of weeks, after two trading days session of losses, amid market concerns over weak supply and restocking demand. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 3.79% day-on-day or up RMB 30 to RMB 822/mt, during the day trading session on Friday. The rebar …
Iron Ore DCE May Daily Technical Review 11/3/22
Verdict – Short-term neutral. DCE iron ore May22 contract maintained wide range movement during the day and closed slight high compared to yesterday. Hourly MACD narrowed in bearish area. Hourly candles entered a triangle area. Technical signals are indicating a neutral sentiment in short-run. The first support is 800.0, the first resistance is 838.0
Iron Ore DCE May Daily Technical Review 10/3/22
Verdict – Short-term neutral. DCE iron ore May22 contract firstly opened low as expected. Iron ore also tested low during the market, however recover major losses during the day session. Hourly slow stochastic KD narrowed below 0 axis. Hourly slow stochastic KD created gold cross near oversold area. A hold on 773.5 in short-run would …
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Daily DCE Review 09/03/22
Iron ore futures dipped at the closing trading session, as market sentiment on iron demand remained poor due to lower steel margins. The futures of Dalian Commodity Exchange (DCE) for May delivery fell by 3.85% day-on-day or down RMB 32.50 to RMB 812.50/mt, during the day trading session on Wednesday. The rebar futures also dropped …
Iron Ore DCE May Daily Technical Review 9/3/22
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract didn’t move significantly as expected yesterday. DCE iron ore expected to enter a small phase of correction observed by candles. Hourly slow stochastic KD gradually declined. Hourly CCI entered bearish territory. Hourly MACD deepened correction below 0 axis. Technical signals were indicating the correction …
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Iron Ore DCE May Daily Technical Review 8/3/22
Verdict – Short-term neutral. DCE iron ore May22 tested low and recover major loss, slight correct compared to the opening on night session. Hourly MACD potentially created gold cross. Hourly CCI was approaching bullish territory. Short-run neutral without seeing clear direction on DCE market. It is worth noticing that the gap yesterday was filled, which …
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Iron Ore DCE May Daily Technical Review 7/3/22
Verdict – Short-term neutral. DCE iron ore May22 maintained bullish during the day. However worth noticing that DCE aggregated open interest has lost 16.6% from the start of this round of rebound in Feb 28th. Previous cut loss sellers were major contributor of today’s market. Short-run support was close to the upper bound of a …
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Daily Virtual Steel Mill Report 7/3/22
Market Verdict on Iron Ore： • Neutral. Macro • The weekends news about U.S. and European countries potential stop import Russian crude oils lifted NYMEX WTI price by 10% in Asian morning on Monday, WTI futures reached $130.5 as the highest of the day. • China government report mentioned expected to decrease deficit ratio from …
Iron Ore DCE May Daily Technical Review 4/3/22
Verdict – Short-term in roof area, correction risk increased. DCE iron ore May22 rebounded slightly and majorly correct most of gains back during the Asian day session. DCE iron ore created the consecutive long upper shadow, with massive decrease on open interests, indicating a temporary taking gains in roof area. Hourly MACD created dead cross. …
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