FIS API Blog
Verdict – Short-term neutral. DCE iron ore September contract maintained consolidation within the range of 1135.0 – 1209.0 from June 23rd. From hourly chart, slow stochastic KD created dead cross near overbought area. MACD potentially create dead cross. Technical signals were indicating a potential testing low in the next trading session, however mid-run neutral. The …
Continue reading “Iron Ore DCE Sep Daily Technical Review 1/7/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · National Bureau of Statistics: in June, the commodity price index fell from a high level. Recently, a series of policies of “increase supply and stabilizing price” have been effective, and the rapid rise of manufacturing prices has been controlled. The ex-factory commodity price …
Verdict – Short-term neutral. DCE iron ore September contract consolidated during the current two days. Currently box range from 1135.0- 1171.0. Hourly MACD potentially create gold cross. Hourly KD created gold cross above oversold area. CCI created bullish divergence with price. Technical signals were indicating a potential test high in the next session. The first …
Continue reading “Iron Ore DCE Sep Daily Technical Review 30/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · World Bank increased the China economy growth rate from 8.1% to 8.5%. China was the major economic entity after the pandemic recovery, where industry and consumption activities had recovered to pre-pandemic level. Moody expected China GDP in the year 2021 reached …
Verdict – Short-term neutral. DCE iron ore September contract rebounded and corrected after reaching the previous neckline area around 1176.0- 1181.5. A breakthrough on this level would potentially lead a next movement to test last high at 1253.5. A rejection on this level potentially drive iron ore back to consolidation. From hourly chart MACD expanded. …
Continue reading “Iron Ore DCE Sep Daily Technical Review 23/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal Powell said the U.S. inflation exceeded the previous expectation, however Federal doesn’t have a plan to increase interest rate immediately. · China State Material Reserve Regulation Center issued an announcement on the release of the first batch of national reserves of …
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Verdict – Short-term bearish. DCE iron ore September contract corrected as previously expected. A further breakdown on 1106.0 potentially drive down the price to 985.0 level, which was the lowest since April 12th. Daily MACD created dead cross. Daily CCI created roof area from the second week of June and then leaked to a bearish …
Continue reading “Iron Ore DCE Sep Daily Technical Review 21/6/21”
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · U.S. 10 year treasury bonds yield corrected to 1.425%, which was a new low from March, 2021. · On June 18th, China PM Li Keqiang held a conference to conduct a decrease on mid-small capital enterprises fees and tax, to decrease the upstream …
Verdict – Short-term neutral to bearish. DCE iron ore September contract slumped after hearing the commodity price supervision news from NDRC. However iron ore started to correct early this morning after a periodic high created over last night. The 1248.0 and 1253.5 became the double top in mid-run. A stand on 1176.0 level could help …
Continue reading “Iron Ore DCE Sep Daily Technical Review 18/6/21”
