FIS API Blog
Verdict- Neutral. DCE Jan24 contract walked in narrow range till the end of market spike supported by the bigger growth on DCE coking coal. Thus, hourly slow stochastic KD created gold cross in oversold area. Hourly CCI moved close to bullish territory. If a breakthrough on last high at 998.5, iron ore would re-enter bullish …
Continue reading “Iron Ore DCE January24 Daily Technical Review 24/11/23”
Verdict: • Short-run Neutral to Bearish. Macro: • Citigroup expected the Bank of England to cut interest rates for the first time in August next year, later than previously expected in May, due to increased inflation risks and personal tax cuts. • The ecological and environmental protection inspection teams will started to supervise on …
Verdict- Neutral to Bearish. DCE Jan24 contract created two highs from 995.0 – 998.5. A breakdown on 960.0-963.0 would potentially trigger a mid-run level correction. Be aware of intra-day resistance at 980.0. A rejection on 980.0 would drive price movement towards 963.0 level. Hourly MACD widened in bearish territory. Hourly CCI returned to neutral area …
Continue reading “Iron Ore DCE January24 Daily Technical Review 23/11/23”
Verdict: • Short-run Neutral. Macro: • US Federal Reserve policymakers were in positions to proceed carefully on future interest rates move and base any further tightening on progress. • China Ecological and Environmental protection supervision in the third round has been fully launched, several teams were established to conduct one -month pollution supervision work …
Verdict- Neutral. DCE Jan24 contract rebounded, however resisted by the last high below 995.0. Hourly CCI reached bullish territory. A breakthrough on 995.0 would accelerate the growth trend. Hourly MACD potentially widened. First support 975.0. First resistance 1110.0.
Verdict: • Short-run Neutral. Macro: • US Federal Reserve policymakers were in positions to proceed carefully on future interest rates move and base any further tightening on progress. • China Ecological and Environmental protection supervision in the third round has been fully launched, several teams were established to conduct one -month pollution supervision work …
Verdict- Neutral. DCE Jan24 contract rebounded, however currently maintained in the wide range box from 945.0 – 976.0 area. A breakthrough or breakdown on the range box would mean directional change in mid-run. In short-run, hourly MACD created gold cross. Hourly slow stochastic KD created gold cross and improved in neutral area. First support 945.0. …
Continue reading “Iron Ore DCE January24 Daily Technical Review 20/11/23”
Verdict: • Short-run Neutral. Macro: • Some of the key decision maker of ECB indicated to avoid premature interest rate cut, because of the high inflation and rather mild impact on economy. • From November 19th to 23rd, there will be a regional heavy pollution weather process in Hebei, China. Environmental departments in Tangshan …
Verdict- Neutral to Bearish. DCE Jan24 contract corrected, thus the periodic high was confirmed at 995.0 for mid-run. Hourly MACD widened in bearish territory. Hourly slow stochastic KD was descending to lower level during the past five trading days. The next resistance would be the last reversal level at 947.0. First support 947.0. First resistance …
Continue reading “Iron Ore DCE January24 Daily Technical Review 17/11/23”
Verdict: • Short-run Neutral to Bearish. Macro: • US jobless claims last week at 231,000, refreshed the highest since August 19th, est. 220,000, last 218,000. Iron Ore Key Indicators: • Platts62 $132.40, +0.40, MTD $128.38. Iron ore saw some BHP cargoes trade and low grade trade yesterday. MACF was traded at $130.9/mt. NHGF …
