FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract retreated significantly during the last half hour with increasing volume. Hourly MACD created a dead cross. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI created bearish divergence with candles before the last trading hour. Iron ore potentially test low in …
Continue reading “Iron Ore DCE May Daily Technical Review 8/2/22”
Market Verdict on Iron Ore： • Neutral. Macro • China National Bureau of Statistics: China will focuson increasing competitive advantage over the global environment, strengthening economy, decreasing tax and maintaining prices. • China National Bureau of Statistics: China above designated size enterprises realized industry profits at 8.7 trillion yuan, up 34.3% from the year 2020. …
Verdict – Short-term neutral. DCE iron ore May22 contract refreshed new high created from August 31st, 2021 and corrected fast. The next trading day iron ore still need to test 777.0- 781.0 resistance area. If a rejection potentially lead to a taking gains effect both below the resistance as well as pre-holiday risk. Hourly slow …
Continue reading “Iron Ore DCE May Daily Technical Review 27/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • At a news conference in Brussels, NATO Secretary General Stoltenberg said that NATO had handed over its “written proposal” to Russia, which was carried out simultaneously with the United States. Stoltenberg did not disclose the specific content of the written proposal. NATO believed that there should …
Verdict – Short-term neutral. DCE iron ore May22 contract tested high several times however rejected by previous high at 777.0. A breakthrough and closing above 777.0 would indicate a continuous growth in mid-run. Otherwise buyers should be aware of the cross Chinese Lunar New Year holding risk. Hourly CCI re-entered the bullish territory. Hourly MACD …
Continue reading “Iron Ore DCE May Daily Technical Review 26/1/22”
Verdict – Short-term neutral. DCE iron ore May22 contract rebounded in smaller volume. A continuous breakthrough on 771.5 and 777.0 with increasing volume would confirm the market return to bullish track. Otherwise iron ore potentially entered the last rebound before a mid-run correction phase. Hourly MACD created gold cross. Hourly slow stochastic KD created gold …
Continue reading “Iron Ore DCE May Daily Technical Review 25/1/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro • US Treasury Secretary Yellen said that inflation is expected to remain above 2% in 2022. There are many uncertainties about inflation. Over time, the inflation rate is expected to decline this year. • U. S. initial jobless claims increased from 231,000 to 286,000 last …
Verdict – Short-term neutral, be aware of top reversal. DCE iron ore May22 contract rejected by 748.5 for the second day with smaller volume. Maintain neutral comment, however be aware of market reversal. Short-run iron ore created a gap from 718.5 – 732.0, which was a strong support. Hourly MACD flattened. Hourly slow stochastic KD …
Continue reading “Iron Ore DCE May Daily Technical Review 20/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • China central bank decreased the one year Loan Prime Rate from 3.8% to 3.7%, the second month decrease. Five Year Loan Prime Rate decreased from 4.65% to 4.6%, previously this rate was fixed for 2o consecutive months. • U.K. December 2021 CPI up 5.4%, created the …
Verdict – Short-term neutral, be aware of top reversal. DCE iron ore May22 contract yet to test high in 741.5. If a failure to reach this level, iron ore would confirm periodic high at 748.5 and potentially enter a correction phase. A breakthrough on 741.5 would increase chances to refresh new high and bring the …
Continue reading “Iron Ore DCE May Daily Technical Review 19/1/22”
