FIS API Blog
Verdict- Neutral to bullish. DCE Sep23 contract opened high and corrected to lower level before closing. In general, iron ore still in a slow rebound structure. Iron ore could regain support fast unless a breakdown on 698.5. Hourly MACD maintained in bullish territory. Hourly CCI corrected after rejected by bullish area. However, iron ore movement …
Continue reading “Iron Ore DCE September23 Daily Technical Review 27/04/22”
Market Verdict on Iron Ore： • Bullish. Macro: • IEA said in its global electronic vehicle outlook that EV sales are expected to grow 35% on the year to 14 million units, accounted for 18% of the market value. The electronic power in automobile market estimated an equivalence to 5 million barrels of decrease …
Verdict- Neutral to bullish. DCE Sep23 contract rebounded after refreshed periodic low at 698.5. The level 698.5- 700.0 area became an important support, as iron ore rebounded fast after touched the level. Hourly MACD created gold cross. Hourly slow stochastic rebounded after created a gold cross above oversold area. In short-run iron ore potentially recover …
Continue reading “Iron Ore DCE September23 Daily Technical Review 26/04/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro： • The draft of China banks’ mortgage approvals became a sign for the levy of real estate tax. However most of house analysts believed that the tax potentially take many years to land. Moreover, some big southern cities eased house buying restrictions for non-residents. …
Verdict- Neutral. DCE Sep23 contract corrected during the last hour. Although price level broke support at 715.5, sellers should be aware of a day trading action from closing to opening. Hourly MACD narrowed in bearish territory and potentially created a gold cross. However hourly CCI headed down to bearish area again. Technical signals were indicating …
Continue reading “Iron Ore DCE September23 Daily Technical Review 25/04/22”
Verdict- Neutral. DCE Sep23 contract corrected during the day. However the current four hourly candles were indicating a potential of recovery. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD created gold cross in oversold area. Hourly CCI entered neutral area from bearish territory. Iron ore potentially test low again during next session, however …
Continue reading “Iron Ore DCE September23 Daily Technical Review 24/04/22”
Market Verdict on Iron Ore： • Neutral. Macro： • Wells Fargo Bank recently predicted that the US economy will enter a recession later this year, but the Federal Reserve will not lower interest rates this year. The bank expected that the Federal Reserve would not turn until inflation expectation approached 2%, and rate cuts …
Verdict- Neutral. DCE Sep23 contract corrected during the day, however we maintain neutral verdict as the market regained support near 757.0 – 760.0 area. Hourly MACD widened in bearish territory. Hourly slow stochastic KD was preparing for a breakthrough on the boundary of oversold area. Hourly CCI approached neutral territory from bearish territory. The technical …
Continue reading “Iron Ore DCE September23 Daily Technical Review 20/04/22”
Market Verdict on Iron Ore： • Neutral. Macro： • The Federal Reserve stated in its Beige Book that in recent weeks, the US economy has stagnated, recruitment and inflation have slowed, and credit channels have narrowed. The US Republican Party proposes to raise the debt ceiling by $1.5 trillion or extend it until March …
Verdict- Neutral. DCE Sep23 contract corrected during the day. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI reached bearish territory after rejected by the boundary of neutral and bullish area. The technical signals are still indicating a potential to test low, however the correction wasn’t expected …
Continue reading “Iron Ore DCE September23 Daily Technical Review 19/04/22”
