FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore September contract test low as expected from last Friday. The correction ended mid-run rebound. Hourly candles created a clear multiple top area, which was normally a reversal and bearish signal. The neckline at 1148.5, created very strong resistance. The intra-day support at 1115.5 was the major …
Continue reading “Iron Ore DCE Sep Daily Technical Review 7/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · China will rely on step-by-step measures to slow the appreciation of the yuan, to restrict speculators and help local exporters avoid tough measures that may impede its goal of liberalizing the yuan and enhancing its global influence. The people’s Bank of …
Verdict – Short-term neutral. DCE iron ore September contract significantly narrowed the volatility during the current two days, after a failure to break periodic high at 1221.5. Hourly CCI was approaching bearish area. Hourly KD explored new room to correct. Hourly MACD widened at bearish territory. Short-run signals indicate potential to test low, however mid-run …
Continue reading “Iron Ore DCE Sep Daily Technical Review 4/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · Ministry of Commerce: we will continue to ensure the supply and price of commodities, promote diversifying on import commodities, strengthen international cooperation, and build a mutual benefit and stable trade channel for commodities. At the same time, we should strengthen the cooperation between …
Verdict – Short-term neutral. DCE iron ore September contract created new high since May 20th and then give back half of the gains during the last two hours. Hourly MACD potential to create a dead cross. Hourly slow stochastic KD continuously create dead cross and moved away from overbought area. Houlry CCI also correct to …
Continue reading “Iron Ore DCE Sep Daily Technical Review 3/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral to bullish. Macro · The State Council held a national conference to deepen the reform of “decentralization, management and improving service” and to stimulate the vitality of market players. Li Keqiang, the China PM, proposed to further empower market players, reduce improper intervention, and oppose …
Verdict – Short-term neutral. DCE iron ore September contract tested high and corrected to very close level as yesterday. Hourly MACD narrowed. Hourly slow stochastic KD created dead cross near overbought area in previous hours. CCI retreated from bullish area. Hourly candles flattened. However technical signals were indicating a neutral with potential to test low. …
Continue reading “Iron Ore DCE Sep Daily Technical Review 2/6/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The China Market Supervision Agency said will closely track the volatility of commodity prices, strengthen pre-risk analysis, regularly monitors the trend of iron ore, steel, coal, crude oil and other commodity prices, create weekly analysis reports, and implement effective supervision. · China May …
Verdict – Short-term neutral. DCE iron ore September contract recovered massively during the day, however open interest was similar to previous trading day, indicating the balance structure between long and shorts. CCI hourly chart was indicating a potential roof area. Slow stochastic KD entered an overbought area. Technical signals were indicating a slow down on …
Continue reading “Iron Ore DCE Sep Daily Technical Review 31/5/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China PM Li Keqiang pointed out at the meeting that to utilize market tools to solve major problems in economic such as rising commodity prices, promote science and technology innovation, expand domestic demand and promote opening up. Xi Jinping delivered an important speech …
