Market Verdict on Iron Ore： · Neutral. Macro · China National Development of Reform Comission: the H2 specialized local debts were issued significantly higher than previous year to stabilize the investment in infrastructure. The debts were proposed to issue earlier than expected. · New York Federal chairman Williams expected the year 2022 U.S. inflation rate …
Tag archives: iron ore
Iron Ore DCE Jan Daily Technical Review 8/9/21
Verdict – Short-term neutral. DCE iron ore January contract tested low and recover most of losses during the day. Iron ore expected to decrease volatile range int the coming two days with decreasing volume. Hourly slow stochastic KD deepened correction after creating a dead cross below overbought area. Hourly CCI slowly corrected. Technical signals were …
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Daily Virtual Steel Mill Report 8/9/21
Market Verdict on Iron Ore： · Neutral to bearish. Macro · China Monetary Department official Sun Guofei said monetary supply was sufficient in the following months. There should be small chances to experience liquidity risk in the market. · U.K. Central Committee(MPC) Sanders indicated U.K. central bank potential to increase interest rate in next year. …
Weekly Virtual Steel Margin Report 07/09/2021
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Iron Ore DCE Jan Daily Technical Review 6/9/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract slumped during the Asian day session. Iron ore re-entered into to falling tunnel. Jan-21 iron ore refreshed the lowest since listed. Daily CCI entered a bearish territory. Daily MACD created dead cross. Iron ore will continue to correct fast unless create a new platform …
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Daily Virtual Steel Mill Report 6/9/21
Market Verdict on Iron Ore： · Neutral. Macro · China PM Li Keqiang indicated to explore and develop carbon emission industry and environment protection industry, and control high energy consumption and emission. · U.S. new added job roles 235,000, estimated 733,000, last 943,000. The significant low expectation would potentially slow down the exit of T-Bond …
Iron Ore DCE Jan Daily Technical Review 3/9/21
Verdict – Short-term neutral. DCE iron ore January contract created the second day of rebound, however resisted below 789.5, which was an important short-run resistance level. A breakthrough on this level would mean a continuous strong rebound. Hourly slow stochastic KD potentially enter an overbought area. Hourly CCI entered bullish territory and widened. Hourly MACD …
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Iron Ore DCE Jan Daily Technical Review 2/9/21
Verdict – Short-term neutral. DCE iron ore January contract tested high and correct, as predicted yesterday as an oversold rebound. The hourly MACD potentially create gold cross in bearish area. However slow stochastic KD and CCI from hourly level were flattened. Short-run consolidating in the range box of 757.5- 789.5. The first support is 757.5, …
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Daily Virtual Steel Mill Report 2/9/21
Market Verdict on Iron Ore： · Neutral. Macro · U.S. ISM announced last month U.S. PMI reached 59.9. However the price indicator of Manufacturing industry dropped from 85.7 to 79.4 from July to August, created the eight month low, which potentially symbolized that inflation reached a roof area. · Germany central bank indicated that European …
Iron Ore DCE Jan Daily Technical Review 1/9/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract corrected massively by 7.78%. The last five trading hours with very small volume indicated current market entered a correction trend. However hourly technical were indicating and exhaustion of the correction. Hourly CCI potentially leave bearish area. Hourly slow stochastic KD potentially create gold cross …
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