FIS API Blog
Verdict – Short-term neutral. DCE iron ore May22 recovered major loss from previous two days, however with lower volume compared to previous two trading days. Hourly slow stochastic KD created a gold cross near oversold territory. Hourly MACD created a gold cross. Hourly CCI approached bullish territory. The first support is 800.0, the first resistance …
Continue reading “Iron Ore DCE May Daily Technical Review 10/2/22”
Market Verdict on Iron Ore： • Neutral. Macro • The latest data released on Thursday is expected to show that US inflation is still at a decades high, but Fed officials are still hopeful that inflation will peak soon. The Federal Reserve Bank of Cleveland president Ben Meister said on Wednesday that the Fed will …
Iron ore futures rebounded from a dip previously, as market participants were more cautious, after regulators warned of false prices information that manipulated the market. The futures of Dalian Commodity Exchange (DCE) for May delivery then rose by 3.20% day-on-day or up RMB 25.50 to RMB 821/mt, during the day trading session on Thursday. The …
Iron ore futures slipped from previous rally, after state authority urged for more transparency in price discovery for the raw material. The futures of Dalian Commodity Exchange (DCE) for May delivery then plunged down by 5.90% day-on-day or down RMB 49 to RMB 781/mt, during the day trading session on Wednesday. The rebar futures also …
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract retreated significantly during the last half hour with increasing volume. Hourly MACD created a dead cross. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI created bearish divergence with candles before the last trading hour. Iron ore potentially test low in …
Continue reading “Iron Ore DCE May Daily Technical Review 8/2/22”
Iron ore futures rose on bullish market sentiment over steel demand, amid market concerns over limited supplies due to wet weathers. The futures of Dalian Commodity Exchange (DCE) for May delivery then hiked by 2.45% day-on-day or up RMB 19.50 to RMB 817/mt, during the day trading session on Monday. The rebar futures also went …
Iron ore futures rose on bullish market sentiment over post-Lunar New Year demand, despite a slowdown of construction activities, due to the week-long holidays season. The futures of Dalian Commodity Exchange (DCE) for May delivery then hiked by 3.40% day-on-day or up RMB 25.50 to RMB 776/mt, during the morning trading session on Wednesday. The …
Market Verdict on Iron Ore： • Neutral. Macro • China National Bureau of Statistics: China will focuson increasing competitive advantage over the global environment, strengthening economy, decreasing tax and maintaining prices. • China National Bureau of Statistics: China above designated size enterprises realized industry profits at 8.7 trillion yuan, up 34.3% from the year 2020. …
Verdict – Short-term neutral. DCE iron ore May22 contract refreshed new high created from August 31st, 2021 and corrected fast. The next trading day iron ore still need to test 777.0- 781.0 resistance area. If a rejection potentially lead to a taking gains effect both below the resistance as well as pre-holiday risk. Hourly slow …
Continue reading “Iron Ore DCE May Daily Technical Review 27/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • At a news conference in Brussels, NATO Secretary General Stoltenberg said that NATO had handed over its “written proposal” to Russia, which was carried out simultaneously with the United States. Stoltenberg did not disclose the specific content of the written proposal. NATO believed that there should …
