FIS API Blog
Verdict – Short-term neutral. DCE iron ore September contract consolidated during the current two days. Currently box range from 1135.0- 1171.0. Hourly MACD potentially create gold cross. Hourly KD created gold cross above oversold area. CCI created bullish divergence with price. Technical signals were indicating a potential test high in the next session. The first …
Continue reading “Iron Ore DCE Sep Daily Technical Review 30/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · World Bank increased the China economy growth rate from 8.1% to 8.5%. China was the major economic entity after the pandemic recovery, where industry and consumption activities had recovered to pre-pandemic level. Moody expected China GDP in the year 2021 reached …
Verdict – Short-term neutral. DCE iron ore September contract rebounded and corrected after reaching the previous neckline area around 1176.0- 1181.5. A breakthrough on this level would potentially lead a next movement to test last high at 1253.5. A rejection on this level potentially drive iron ore back to consolidation. From hourly chart MACD expanded. …
Continue reading “Iron Ore DCE Sep Daily Technical Review 23/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal Powell said the U.S. inflation exceeded the previous expectation, however Federal doesn’t have a plan to increase interest rate immediately. · China State Material Reserve Regulation Center issued an announcement on the release of the first batch of national reserves of …
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Verdict – Short-term bearish. DCE iron ore September contract corrected as previously expected. A further breakdown on 1106.0 potentially drive down the price to 985.0 level, which was the lowest since April 12th. Daily MACD created dead cross. Daily CCI created roof area from the second week of June and then leaked to a bearish …
Continue reading “Iron Ore DCE Sep Daily Technical Review 21/6/21”
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · U.S. 10 year treasury bonds yield corrected to 1.425%, which was a new low from March, 2021. · On June 18th, China PM Li Keqiang held a conference to conduct a decrease on mid-small capital enterprises fees and tax, to decrease the upstream …
Verdict – Short-term neutral to bearish. DCE iron ore September contract slumped after hearing the commodity price supervision news from NDRC. However iron ore started to correct early this morning after a periodic high created over last night. The 1248.0 and 1253.5 became the double top in mid-run. A stand on 1176.0 level could help …
Continue reading “Iron Ore DCE Sep Daily Technical Review 18/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The National Development and Reform Commission held a regular press on June 17 to carry out the supervision of the bulk commodity market, jointly investigate the market transactions, interview enterprises and associations in key industries, investigate and verify the clues related to suspected …
Verdict – Short-term neutral. DCE iron ore September contract recovered major loss by last trading day and return to previous consolidation range. The area of 1225.5-1233.0 provide major resistance, as the roof areas of many candles. Hourly MACD was narrowing below 0 axis. Hourly slow stochastic KD keep rebounding. However be aware of hourly candles, …
Continue reading “Iron Ore DCE Sep Daily Technical Review 17/6/21”
