Market Verdict on Iron Ore： • Neutral to Bearish. Macro： • CME FedWatch indicated that the 25 bps interest hike in March had reached 87.1%. • U.S. Finance Minister said that if small banks encounter a run and risk out-spread, they are willing to intervene to protect deposits. Iron Ore Key Indicators: • …
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Iron Ore DCE May23 Daily Technical Review 21/03/22
Verdict- Bearish in Short-run. DCE May23 contract entered a correction phase. Maintained the short-run bearish outlook. Hourly slow stochastic entered oversold area. Hourly MACD moved in bearish territory. Hourly 5 Day MA, 10 Day MA and 20 Day MA were indicating a bearish structure. First support 860.0. First resistance 900.0.
Daily Virtual Steel Mill Report 21/03/22
Market Verdict on Iron Ore： • Neutral to Bearish. Macro： • CME FedWatch indicated that the 25 bps interest hike in March had reached 76.8%. • The Swiss government has committed nearly 260 billion Swiss francs to rescue Credit Suisse, equivalent to one-third of Swiss GDP. Iron Ore Key Indicators: • Platts62 $126.50, …
Iron Ore DCE May23 Daily Technical Review 20/03/22
Verdict- Bearish in Short-run. DCE May23 contract entered a correction phase. The contract broke 900.0 and tested the second support level at 883.0. Hourly CCI entered bearish territory. Hourly MACD maintained in bearish territory after March 14th. Short-run signals were indicating the correction in continuance. First support 860.0. First resistance 900.0.
Daily Virtual Steel Mill Report 20/03/22
Market Verdict on Iron Ore： • Neutral to Bearish. Macro： • China PBOC announced that it will cut Reserve Requirement Rate by 25 bps for Financial institutions starting from March 27th, viewed as a positive sign to the investment market. • UBS to buy Credit Suisse in $3.3 billion to end crisis. Iron …
Iron Ore DCE May23 Daily Technical Review 17/03/22
Verdict- Neutral in Short-run. DCE May23 contract recovered the loss from yesterday, however slow down in the afternoon session. Hourly MACD potentially create gold cross. Hourly slow stochastic KD created gold cross above oversold area. A breakthrough on 921.0 would indicate a fast growth. First support 900.0. First resistance 936.0.
Daily Virtual Steel Mill Report 17/03/22
Market Verdict on Iron Ore： • Neutral. Macro： • The European Central Bank, raised interest rates by 50 basis points, has persisted in fighting inflation, ignoring calls from some investors for a temporary tightening of policy until the banking turmoil has eased. The ECB announced that it would raise its deposit rate to 3%, …
Iron Ore DCE May23 Daily Technical Review 16/03/22
Verdict- Bearish in Short-run. DCE May23 contract leaked after the global secondary market retreated. Iron ore broke important support at 900.0 during the day. The next support 883.0 created two periodic bottoms in the past two months. Hourly MACD widened in bearish territory. Hourly slow stochastic KD entered bearish territory. Iron ore in short-run potentially …
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Daily Virtual Steel Mill Report 16/03/22
Market Verdict on Iron Ore： • Neutral to bearish. Macro： • The Federal Reserve interest rate swap indicated that the interest rates potentially decrease by 100 basis points before December. • US PPI rose 4.6% year-on-year in February, estimated 5.4%, and the previous value was revised to increase 5.7%; A month-on-month decrease of 0.1%, …
Iron Ore DCE May23 Daily Technical Review 15/03/22
Verdict- Neutral in Short-run DCE May23 contract consolidated in the previous expected rangebound from 900.0 – 936.0 during this week. Hourly MACD in bearish territory. Hourly CCI reached oversold area. Be aware of testing low in next session. First support 900.0. First resistance 936.0.