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Tag archives: IO65
Iron Ore DCE Jan Daily Technical Review 23/8/21
Verdict – Short-term neutral. DCE iron ore January contract gave back most of gains created by last Friday. Hourly MACD weakened. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI corrected to bearish area from bullish area fast. The short support 735.0 was strong, which used to create a market reversal. However …
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Daily Virtual Steel Mill Report 23/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Dollar reached the highest since last November on last Friday. Dollar entered a strong cycle. Iron Ore Key Indicators: · Platts 62% 139.10 (+8.90), MTD 163.36. · Jan -Jul China recycled iron and steel imported 420,500 tonnes. Major import from Japan. SGX …
Daily Virtual Steel Mill Report 20/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China National Bureau of Statistics: Excavators production in July 18,357 sets, down 18.4% y-o-y. Jan-Jul total produced 232,633 sets, up 22.7% y-o-y. The year on year growth rate has decrease for consecutive four months. · 500 concrete companies in China indicated last week …
Iron Ore DCE Jan Daily Technical Review 19/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract opened low and generated a normal gap, iron ore also broke resistance at 777.5, however supported by major 750- 759.0 area. The significant increasing volume and the slight recover during last two hours were indicating iron ore potentially oversold in short-run. Hourly slow stochastic …
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Daily Virtual Steel Mill Report 19/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. FOMC notes indicated to decrease QE within the year 2021. The attendee of the conference said the inflation was caused by labor and supply chain shortage, which was temporarily. However the cost increase by supply chain breakdown was beyond expectation. The new …
Iron Ore DCE Jan Daily Technical Review 18/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract confirmed the bearish trend during this Tuesday and Wednesday. Firstly iron ore broke down the important previous support at 814.0 area, the push back after then was not strong enough to bring a higher closing above 814.0. Hourly MACD widened below 0 axis. CCI …
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Daily Virtual Steel Mill Report 18/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal officials reached agreement that potentially exit part of monetary ease policy in three months if economy presenting positive signs in future. · U.S. Treasury Secretary Yellen said the Biden’s infrastructure and social projects expending bill was the “most important economy projects” …
Iron Ore DCE Jan Daily Technical Review 16/8/21
Verdict – Short-term neutral to bullish, potentially test high in next trading session. DCE iron ore January rebounded slightly following the previous prediction indicating oversold. The previous two day rebound with big volume however limited growth, indicated the rebound has some confliction. The short-run roof was close to 860.5 area, from hourly chart iron ore …
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Daily Virtual Steel Mill Report 16/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · Indian PM Modi indicated India will start 100 trillion rupee(1.35 trillion U.S. dollar) in the new infrastructure projects to increase job roles and new energy projects. · China central bank stated on Saturday that current Chinese Yuan potentially appreciate or depreciate, which potentially …