FIS API Blog
Verdict – Short-term neutral. DCE iron ore May23 contract tested low however backed by major support above 900.0. Hourly MACD maintained in bearish territory. Houlry CCI returned from bearish territory to neutral area. A breakdown on 900.0 by closing in future trading days would indicate a mid-run reversal. Otherwise iron ore would potentially maintain watch-and-see …
Continue reading “Iron Ore DCE May23 Daily Technical Review 24/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. jobless claims fell to unexpected 192,000, estimated 200,000. Iron Ore Key Indicators: • Platts62 $130.20, -0.40, MTD $125.99. Fixed price still dominate the market in current two weeks. The import margin vanished again for mid-grade and high grade as the quick push on iron …
Verdict – Short-term neutral. DCE iron ore May23 contract slight corrected, maintained neutral during past few days as expected. The major trades ranged from 906.0 – 922.0 area. A breakdown on 900.0 would potentially reverse the mid-run bullish trend. Hourly CCI entered bearish territory. Hourly MACD deepened correction in bearish territory. Short-run technical were indicating …
Continue reading “Iron Ore DCE May23 Daily Technical Review 23/02/22”
Market Verdict on Iron Ore： • Neutral. Macro: • U.S. FOMC indicated that most of officials had saw the positive effect of slower hike. Thus, most of officials are voting for 25 bps hike. The U.S. Federal believed that the inflation risk was in general controllable. Iron Ore Key Indicators: • Platts62 $130.60, …
Verdict – Short-term neutral. DCE iron ore May23 contract maintained neutral after a big spike, as expected. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross in overbought area and accelerated the correction. Short-run signals were indicating a potential to test low in next few sessions. The first support is 900.0. The …
Continue reading “Iron Ore DCE May23 Daily Technical Review 22/02/22”
Market Verdict on Iron Ore： • Neutral. Macro: • IMF indicated that Asian central banks would think about incease interest rate if inflation failed to reach the target rate in 2023. • U.S. Manufacturing PMI reached 47.8 in February, up from 46.9 in January, refreshed a four-month-high. Iron Ore Key Indicators: • Platts62 …
Verdict – Short-term neutral. DCE iron ore May23 contract extended growth and refreshed listed high. Hourly slow stochastic KD entered overbought area. Hourly CCI fell from bullish territory to neutral area. Hourly MACD widened in bullish territory. Iron ore was in an accelerating growth mode. Be aware of the taking gains and high changing hands …
Continue reading “Iron Ore DCE May23 Daily Technical Review 21/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • The central bank of Germany indicated that Germany economy expected to recover in particular after the resilience growth rate of last Q4. However it would take more time to moderate high consumer price. Iron Ore Key Indicators: • Platts62 $129.55, +2.25, MTD $124.94. Fixed …
Verdict – Short-term neutral. DCE iron ore May23 contract extended growth and refreshed listed high during the trading day. The 900.0 level became the next resistance. Hourly slow stochastic stayed around the boundary of overbought area. Hourly MACD narrowed in bullish territory. The mid-run trend maintained bullish, however be aware of changing hands and big …
Continue reading “Iron Ore DCE May23 Daily Technical Review 20/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • European Central Bank president Christine Lagarde indicated that high inflation would create huge impact in economy and target to bring inflation back to 2%. The ECB officials are proposing 50 bps interest raise in March. • China MIIT urged to increase the merging and restructure …
