Market Verdict on Iron Ore： • Neutral. Macro • G20 finance ministers and central bank leaders said that the global economy continued to recover, but influenced by COVID-19 and other countries. The recovery process and policies were different among countries. The inflation pressure of some countries increased. The attending countries promised to take all available …
Tag archives: IO65
Iron Ore DCE May Daily Technical Review 18/2/22
Verdict – Short-term neutral. DCE iron ore May22 recovered from extreme sentiment after a low open last night, saw a slight recovering volume. Hourly slow stochastic KD created gold cross in oversold area. Hourly MACD widened above 0 axis. Technical signals were indicating a neutral sentiment and exhaustion on the previous sellers, however the mid-run …
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Daily Virtual Steel Mill Report 18/2/22
Market Verdict on Iron Ore： • Neutral to bearish. Macro • Europe Union would impose tariff on steel fasteners exported from China by 22.1-86.5%. Iron Ore Key Indicators: • Platts62 $130.65, -9.65, MTD $145.37. SGX and DCE iron ore futures trades both improved on volumes from last night and this morning. However physical trade was …
Iron Ore DCE May Daily Technical Review 17/2/22
Verdict – Short-term bearish. DCE iron ore May22 re-entered the bearish tunnel during the day with expanding trading volume. The volume and open interest structure indicated that iron ore market was still driven by aggressive new short positions. Hourly MACD expanded in bearish territory. Hourly slow stochastic KD created a dead cross above oversold area. …
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Iron Ore DCE May Daily Technical Review 16/2/22
Verdict – Short-term neutral. DCE iron ore May22 recovered slightly during the day. Hourly MACD potentially create gold cross. Hourly slow stochastic KD created gold cross below 0 axis. Hourly CCI rebounded fast from bearish territory. Iron ore price rebounded on the back of 696.0 twice during the day. However the rebound continuance was uncertain. …
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Iron Ore DCE May Daily Technical Review 14/2/22
Verdict – Short-term neutral. DCE iron ore May22 closed slight higher than the Friday closing, currently iron ore was trade between the narrow range of 761.5- 789.0. Hourly MACD narrowed below 0 axis. Hourly slow stochastic KD potentially create gold cross above oversold area. Hourly CCI entered neutral area. Daily technical signals were indicating a …
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Daily Virtual Steel Mill Report 14/2/22
Market Verdict on Iron Ore： • Neutral. Macro • WTI reached $94.88/barrel, refreshed the high from the year 2014. LME Alumunium also created new high since the year 2008 previous Friday. • Russia and U.S. both retreated the withdraw diplomatic personal and related staff in Ukraine, expecting the tightened geo-political relations. • China Central Bank …
Iron Ore DCE May Daily Technical Review 11/2/22
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract fell fast after refreshing the high created from August 5th, creating a short-run roof area around 845.0- 849.0. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI corrected massively from overbought area. Iron ore potentially test …
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Iron Ore DCE May Daily Technical Review 10/2/22
Verdict – Short-term neutral. DCE iron ore May22 recovered major loss from previous two days, however with lower volume compared to previous two trading days. Hourly slow stochastic KD created a gold cross near oversold territory. Hourly MACD created a gold cross. Hourly CCI approached bullish territory. The first support is 800.0, the first resistance …
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Daily Virtual Steel Mill Report 10/2/22
Market Verdict on Iron Ore： • Neutral. Macro • The latest data released on Thursday is expected to show that US inflation is still at a decades high, but Fed officials are still hopeful that inflation will peak soon. The Federal Reserve Bank of Cleveland president Ben Meister said on Wednesday that the Fed will …