FIS API Blog
Verdict- Neutral. DCE Sep23 contract corrected during the day. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI reached bearish territory after rejected by the boundary of neutral and bullish area. The technical signals are still indicating a potential to test low, however the correction wasn’t expected …
Continue reading “Iron Ore DCE September23 Daily Technical Review 19/04/22”
Market Verdict on Iron Ore： • Neutral. Macro: • U.S. Federal governor Raphael Bostic estimated the interest rate would maintain unchanged for a long period after the last hike in 2023. The Federal Reserve’s support for further interest rate hikes to cope with persistent inflation. The market has exaggerated concerns about economic recession. • …
Verdict- Neutral to bullish. DCE Sep23 contract rebounded for the second day, breakthrough the descending tunnel created last week. Hourly MACD maintained in bullish territory. CCI headed down to neutral area from bullish territory. Iron ore potentially test high in the next few sessions. In mid-run, iron ore potentially recover bullish if breakthrough 794.5- 803.0 …
Continue reading “Iron Ore DCE September23 Daily Technical Review 18/04/22”
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. NAHB April index 45, last 44, est. 44. The improvement on the housing investment was contributed by the limited sources of second-hand houses on the market, as well as the lower mortgage rates, which stimulated the demand for new houses. • China Q1 GDP …
Verdict- Neutral. DCE Sep23 contract rebounded after firming the support areas from 760.0 – 763.5. However in mid-run, iron ore trend was resisted by 40-Hour Moving Average twice. Hourly MACD created gold cross. Hourly CCI approached overbought area. First support 760.0. First resistance 782.5.
Market Verdict on Iron Ore： • Neutral. Macro： • ECB official indicated that to stop interest hike or to increase by 25 bps or potentially become major decision of the next meeting, instead of a 50bps hike. Iron Ore Key Indicators: • Platts62 $118.90, -0.05, MTD $120.42. Physical traders expected active trading activities …
Verdict- Neutral to Bearish. DCE Sep23 contract broke important support at 771.0. Thus iron ore returned to the bearish trend. Hourly CCI ticked up by the last two trading hours, however in the bearish territory. Hourly slow stochastic KD potentially create gold cross in oversold area. Hourly MACD widened in bearish territory. Iron ore potentially …
Continue reading “Iron Ore DCE September23 Daily Technical Review 13/04/22”
Market Verdict on Iron Ore： • Neutral. Macro: • U.S. March CPI up 5% on the year, lower than 5.2% expected, refreshed new low from May 2021, created a consecutive 9-month drop. However core CPI in March up from 5.5% to 5.6%. • G7 Group indicated that the central banks in global countries would …
Verdict- Neutral. DCE Sep23 contract returned to rangebound area from 771.0 to 803.0, after rejected by 803.0. Hourly MACD narrowed in bullish area. Hourly CCI retreated after failing to breakthrough the bullish boundary. First support 771.0. First resistance 803.0.
Market Verdict on Iron Ore： • Neutral. Macro： • IMF published the World Economic Outlook, estimated global economy growth by 2.8% in 2023, 0.1% lower than previous expectation. The estimated growth rate up 3% by 2024, down 0.1% than last prediction. • A report from the New York Federal Reserve stated that the Federal …
