FIS API Blog
Verdict – Short-term neutral. DCE iron ore May22 contract created big rebound during the day, however rejected by 675.0-677.0 area by the third time. Iron ore in short-run was close to the end of an ascending triangle pattern. A further rejection on major resistance would exhaust the motive of rebound and bring iron ore back …
Continue reading “Iron Ore DCE May Daily Technical Review 16/12/21”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. FOMC decided maintain the interest rate range at 0-0.25%, which fell in the expectation of market. Federal accelerate the Taper and decrease 30 billion U.S. dollars equivalent debt purchases each month, previous decrease by 150 billion dollars. The FOMC matrix indicated that commissioners expected three …
Verdict – Short-term neutral. DCE iron ore May22 contract started weak consolidation during the day. Hourly CCI retreated approaching bearish territory. 676.0 -677.0 created a significant strong resistance. First support 645.5 was a weak support. According to Elliot wave, iron ore hourly chart didn’t successfully completed a wave 4. Technical signals were indicating a neutral …
Continue reading “Iron Ore DCE May Daily Technical Review 15/12/21”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. November PPI up 0.8% m-o-m, created a seven-month high. Est. up 0.5%. Last up 0.6%. • China NDRC and MIIT departments published documents to supervise commodities price movement, to increase supply on upstream commodities and utilise national reserve. Iron Ore Key Indicators: • Platts 62 …
Verdict – Short-term neutral to bullish. DCE iron ore May22 contract created the biggest single day increase over the past four trading days however rejected by major resistance at 676.0 area. Iron ore market potentially test high and break 676.0, price movement expected to accelerate after the breakthrough. Hourly slow stochastic KD approached overbought area. …
Continue reading “Iron Ore DCE May Daily Technical Review 13/12/21”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • S&P 500 have created the biggest single week growth in percentage since February 5th, 2021. Market recovered sentiments and inflation statistic fell in expectation range. • China political conference during weekends revealed positive signals on stablising infrastructure demand, which stimulate the industrial commodities pushing …
Market Verdict on Iron Ore： · Neutral to bearish. Macro · U.S. previous week initial jobless claim reached 184,000, created the lowest since the year 1969. Estimated 220,000, last 222,000. · China central bank decided to increase foreign exchange deposit reserve rate from 7% to 9%, to hedge the appreciation risk of Chinese Yuan, CNH …
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract started a short-run correction after breakdown the import support around 644.0- 645.0. However currently become neutral and in the phase of testing low. A breakdown on 632.0 would indicate a mid-run correction start. Hourly CCI correct fast from bullish territory to bearish territory from …
Continue reading “Iron Ore DCE May Daily Technical Review 09/12/21”
Market Verdict on Iron Ore： · Neutral. Macro · China PBOC RRR released four positive signals including the stable economy growth, hedge the downside risk of economy, create a beneficial monetary environment for enterprises and indicate a manageable liquidity policy. · The two parties of U.S. reached a consensus to increase the maximum debt ceiling …
Verdict – Short-term neutral. DCE iron ore May22 contract finally closed 5 yuan slight lower than opening of the day. Daily high and low were 676.0 and 652.5 respectively, which also became the first resistance and support. Hourly CCI started to weaken and diverge with iron ore price since December 6th. Hourly slow stochastic KD …
Continue reading “Iron Ore DCE May Daily Technical Review 08/12/21”
