FIS API Blog
Verdict – Short-term bearish. DCE iron ore September contract broke down the import support at 800.0 area with growing volume compared with yesterday. Hourly CCI went into bearish territory. Hourly slow stochastic KD deepened correction. Hourly MACD created dead cross above 0 axis. Iron ore short-run entered a correction phase to test the support …
Continue reading “Iron Ore DCE September Daily Technical Review 18/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. Federal chairman Powell indicated that the FOMC supported the 50 basis points interest increase in the next two meetings. Market was pricing in the expectation. Iron Ore Key Indicators: • Platts62 $130.15, +2.80, MTD $133.97. Seaborne PBF obtained growing interests, in particular after …
Verdict – Short-term neutral. DCE iron ore September contract broke through the important resistance at 839.0 and refreshed seven-day high, however corrected back with lower aggregated volume. Hourly MACD potentially create dead cross above 0 axis. Hourly slow stochastic KD created dead cross this morning and deepened correction. Technical signals indicate a potential to …
Continue reading “Iron Ore DCE September Daily Technical Review 17/05/22”
Verdict – Short-term neutral to bullish. DCE iron ore September contract picked up during the last half-hour before closing. The high of day was slight lower than the import resistance level at 839.0. From hourly chart, MACD narrowed above 0 axis. Hourly CCI created lower highs from May 11th. Iron ore needs to breakthrough …
Continue reading “Iron Ore DCE September Daily Technical Review 16/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • China lowered the mortgage rate for homebuyers and announced a phased reopening of shops in Shanghai due this Monday. The China Central Bank PBOC on Sunday cut the lower-bound range of mortgage interest rates from 4.6% to 4.4%. • IEA expected that the global crude …
Verdict – Short-term neutral. DCE iron ore September contract as expected maintained a wide-range movement during the week. If a breakthrough on 839.0 with growing volume, iron ore will potentially enter an accelerated rebound phase. Otherwise, a breakdown on important level from 780.0 – 783.0 would indicate a return to bear. Hourly MACD created …
Continue reading “Iron Ore DCE September Daily Technical Review 13/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • The US Senate on Thursday approved Powell’s second four-year term as the chairman of Federal Reserve. Powell reiterated his expectation that the Fed would raise interest rates by 50 basis points in the next two FOMC meetings, and promised to take more actions if the …
Verdict – Short-term neutral. DCE iron ore September contract fell into the correction tunnel during the day. Hourly candles indicated that iron ore has created three lower highs and two lower lows from April 19th. If breaking through major support from 783.0- 800.0 area, iron ore potentially testing periodic low. Otherwise, iron ore would …
Continue reading “Iron Ore DCE September Daily Technical Review 12/05/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. April CPI up 8.3% y-o-y, narrowed from March at 8.5%. Core CPI up 6.2% y-o-y, higher than expected 6%. Iron Ore Key Indicators: • Platts62 $133.50, +5.40, MTD $136.78. Seaborne iron ores such as PBF saw several interests based on sales with discount. …
Verdict – Short-term neutral. DCE iron ore September contract rebounded and ended the previous correction after broke through the important resistance at 783.0 and made it to a support. The 783.0 level has been support and resistance level for many times. Hourly MACD created gold cross. Slow stochastic KD rebounded significantly. Hourly CCI reached …
Continue reading “Iron Ore DCE September Daily Technical Review 11/05/22”
