FIS API Blog
Verdict – Short-term neutral. DCE iron ore May23 contract recovered the loss of previous two trading days, yet to see a clear rebound signal at this level. Hourly MACD created gold cross. Hourly slow stochastic KD created higher gold cross in neutral area. Technical signals were indicating a test high. The first support is 820.0. …
Continue reading “Iron Ore DCE May23 Daily Technical Review 06/01/22”
Market Verdict on Iron Ore： • Neutral. Macro: • China Caixin December PMI at 48.0, last 46.7, est. 46.8. • U.S. December ADP employment increased by 235,000, higher than expected 150,000, last 127,000. Iron Ore Key Indicators: • Platts62 $117.20, +0.20, MTD $117.28. PBF float premium were assessed at $1.2-1.8 based on February …
Verdict – Short-term neutral to bearish. DCE iron ore May23 contract entered a short-run correction phase from hourly candles chart. Hourly MACD located in bearish territory. However hourly CCI recovered from bearish territory to neutral area. Iron ore has confliction on the level of 840.5-841.0 currently. Iron ore expected to test low in next few …
Continue reading “Iron Ore DCE May23 Daily Technical Review 05/01/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro: • Europe council predicted that Eurozone GDP average growth rate at 0.3%, lower than last expectation at 2.3% in early 2022. • U.S. FOMC participants indicated a slow down on interest hike, yet to see any sign of interest decrease in 2023. Iron …
Verdict – Short-term neutral. DCE iron ore May23 contract entered a short-run correction tunnel observed from hourly chart. As expected from last report, iron ore tested the import support of 40-hour moving average. A breakdown on this support level periodically indicated a mid-run level correction start. Hourly MACD widened below 0 axis. Hourly slow stochastic …
Continue reading “Iron Ore DCE May23 Daily Technical Review 04/01/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro: • China’s Ministry of Finance: In 2023, China will appropriately increase fiscal expenditure, promote recovery of consumption market. • Many dry bulk shipowners will have to slow steam their fleets for their vessels to achieve a passing rating in the International Maritime Organization’s (IMO) …
Verdict – Short-term neutral. DCE iron ore May23 contract corrected as expected. Hourly slow stochastic KD created a dead cross below overbought area. Iron ore maintained above 40-hour moving average after November 25th. Thus, it take sometime to evaluate a real correction at this level. Moreover, the intraday low used to be strong support last …
Continue reading “Iron Ore DCE May23 Daily Technical Review 03/01/22”
Verdict – Short-term neutral. DCE iron ore May23 contract refreshed listed high during the day, mid-run maintain bullish trend. Be aware of short-run reversal across holiday. DCE may was almost flat to January. Thus, futures on far month was valued at high level. The first support is 841.5. The first resistance is 875.0
Market Verdict on Iron Ore： • Neutral. Macro: • China’s Ministry of Finance: In 2023, China will appropriately increase fiscal expenditure, promote recovery of consumption market. • U.S. jobless claim increased 9,000 to 225,000, as expected. • Australia and India signed an agreement ECTA, aiming to decrease the bilateral taxes. Iron Ore Key …
Verdict – Short-term neutral. DCE iron ore May23 contract broke important resistance at 841.5, refreshed periodic high at 847.0 during the day. However be aware of correction and test 841.5 as a support. Hourly MACD maintained in bullish territory for four trading days, iron ore maintained in bullish territory in mid-run. In short-run, iron ore …
Continue reading “Iron Ore DCE May23 Daily Technical Review 29/12/22”
