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Verdict – Short-term neutral, oversold currently. DCE iron ore January gave back all gains created on previous trading day. Iron ore ended an oversold rebound and return to a short-run consolidation area from 836.0- 874.5. If a breakdown through 836.0 and 823.5, iron ore will trigger a slump. Hourly slow stochastic KD fell quickly after …
Continue reading “Iron Ore DCE Jan Daily Technical Review 12/8/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The U.S. Senate passed the 3.5 trillion U.S. dollar budget of Biden economic plan, used related to infrastructure investment. · China Ministry of Finance: building fiscal and tax policies to promote green and low-carbon development, will support the iron and steel and coal …
Verdict – Short-term neutral, oversold currently. DCE iron ore January rebound after an oversold, the high volume indicated big changing hands and potentially reach a periodic low. Hourly MACD widened above 0 axis. Hourly slow stochastic KD widened. Hourly CCI entered bullish area. Hourly candles were confirming a bottom area, a further breakthrough on 874.5 …
Continue reading “Iron Ore DCE Jan Daily Technical Review 11/8/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The U.S. Senate voted 69 to 30 to approve the $1 trillion cross-party base establishment bill, which includes $550 billion in new infrastructure funding project. · China Ministry of Finance: building fiscal and tax policies to promote green and low-carbon development, will support …
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Verdict – Short-term neutral. DCE iron ore January contract corrected over Friday night session and the day session of Monday. However the trading volume decreased and rebounded during most of the day session on Monday. A further breakdown on daily low at 845.0 with small trading volume would indicated a new round of slump. Hourly …
Continue reading “Iron Ore DCE Jan Daily Technical Review 9/8/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China National Bureau of Statistics: July CPI up 1% from June, up 0.3% y-o-y. July PPI up 9% y-o-y, from 0.5% from August. Jan- July Manufacturing ex-work price up 5.7% y-o-y, Manufacturing purchase price up 7.9% y-o-y. Iron Ore Key Indicators: · Platts …
Market Verdict on Iron Ore： · Iron ore neutral. Macro · IMF: global economic growth will reach 6% in 2021, which is a high forecast and the highest global growth rate in the past few decades. · New Typhoon landed in southern China, which will impact four southern provinces with heavy rain for the coming …
Verdict – Short-term neutral to bearish. DCE iron ore September rolled to January during this week. The big correction with greater volume during a rolling period indicated major investors were slight bearish in the after market of iron ore. Hourly chart candles entered stable over the afternoon session. A hold up on 873.0 level would …
Continue reading “Iron Ore DCE Jan Daily Technical Review 5/8/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · U.S. July Markit service PMI 59.9, est. 59.8, last 59.8. Composite PMI 59.9, last 59.7. · The three departments of China encouraged four kinds of household appliance manufacturers such as TV sets, refrigerators, washing machines and air conditioners to carry out …
