FIS API Blog
Verdict- Neutral. DCE May24 contract broke last resistance and retreated before closing. The next resistance would be 958.0, where there was many open interests built and some reversals from hourly level. Hourly MACD widened in bullish territory. Hourly CCI reached new high since November 14th. Hourly slow stochastic KD approached the boundary of overbought …
Continue reading “Iron Ore DCE May24 Daily Technical Review 20/12/23”
Verdict: • Short-run Neutral. Macro: • The Eurozone November CPI reached – 0.6% on the month, refreshed the biggest monthly drop since January 2020. • The situation in the Red Sea lift concerns from traders, WTI continued its upward trend and once rose by more than 2%. The world’s biggest shipping companies said container …
Verdict- Neutral. DCE May24 contract maintained consolidation as expected. Hourly CCI and slow stochastic KD positioned in neutral area. Hourly MACD narrowed and potentially create gold cross. A breakthrough on the range bounds from 915.0 – 939.0 potentially indicate directional change. First support 915.0. First resistance 939.0.
Verdict: • Short-run Neutral. Macro: • The US Federal Governor Mary Daly indicated that a rate cut in 2024 would be appropriate. A total three cut in 2024 should be necessary. • European Central Bank Council member said that the market expectations for an interest rate cut in next March or April are too …
Verdict- Neutral. DCE May24 contract tested low during the day and recovered most of losses. The verdict changed from bearish to neutral as the technical signals were indicating an exhaustion. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI entered neutral area. Hourly MACD narrowed in bearish area. First support 915.0. First …
Continue reading “Iron Ore DCE May24 Daily Technical Review 18/12/23”
Verdict: • Short-run Neutral. Macro: • The New York Federal governor John Williams said: “We are not really talking about cutting interest rates right now.” He said of the issue of interest rate cuts: “I just think it is too early to think about it.” U.S. interest rate futures responded with a sudden drop …
Verdict- Neutral to Bearish. DCE May24 contract created three consecutive corrections. Iron ore aggregated open interest has decreased by 14% from December 7th. From hourly chart, hourly MACD expanded in bearish territory. Hourly CCI reached bearish territory. Hourly slow stochastic KD corrected. Short-run signals were indicating a continuous testing low in next few sessions. First …
Continue reading “Iron Ore DCE May24 Daily Technical Review 15/12/23”
Verdict: • Short-run Neutral. Macro: • Beijing and Shanghai are optimising real estate market policies. Beijing has decreased the down payment ratio to 30% for the first home puchase, and the 40% for the second home purchase. House loans cycle rise from 25 years to 30 years. The lower limit of the interest rate …
Verdict- Neutral. DCE May24 contract rebounded significantly, however resisted below last high at 975.5. Thus, maintain the neutral outlook in short-run. Hourly CCI entered bullish territory. Hourly slow stochastic KD accelerated rebound after a gold cross. First support 941.5. First resistance 975.5.
Verdict: • Short-run Neutral. Macro: • The China Automobile Association said that in November, automobile production and sales completed 3.093 million units and 2.97 million units respectively, an increase of 7% and 4.1% month-on-month, and a year-on-year increase of 29.4% and 27.4% respectively. The Association expected that automobile production and sales would hit record …
