FIS API Blog
Verdict – Short-term neutral. DCE iron ore May23 contract corrected after reached periodic high at 893.0. However be a ware of current resistance area from 883.0- 893.0. Hourly MACD created gold cross. Hourly CCI entered bullish territory. Short-run technical were indicated a resilient level, however testing high period. The first support is 880.0. The first …
Continue reading “Iron Ore DCE May23 Daily Technical Review 17/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. last week jobless claims 194,000, est. 200,000, last 195,000. • China MIIT urged to increase the merging and restructure of domestic steel industries, improving the quality of steels. Iron Ore Key Indicators: • Platts62 $124.75, +1.15, MTD $124.36. Fixed trades in mid-stream largely …
Verdict – Short-term neutral. DCE iron ore May23 contract created three consecutive growth during the past trading days. Hourly MACD widened in bullish territory. Hourly CCI entered bullish territory. Iron ore was testing the strength of the pressure on 883.0- 889.0 level, an effective breakthrough would suggest an entrance to bullish again. The first support …
Continue reading “Iron Ore DCE May23 Daily Technical Review 16/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • IEA predicted that the crude oil demand expected to increase 200 million barrels/day, reaching 101.9 million barrels/day. However the restriction of Russia supply and economy recovery globally potentially cause a shortage. Iron Ore Key Indicators: • Platts62 $123.60, -0.15, MTD $124.32. The import …
Verdict – Short-term neutral. DCE iron ore May23 contract corrected the second high of February and then corrected. As expected the iron ore maintained rangebound between 840- 870 during most of time in February. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI potentially retreated to neutral area from bullish area. Technical …
Continue reading “Iron Ore DCE May23 Daily Technical Review 15/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • EU published winter report in 2023, increased the economic growth rates of EU and Euro Zone to 0.8% and 0.9%. • U.S. January CPI fell from 6.5% to 6.4%, created a 7-month drop, refreshed new low since October 2021, however higher than expected 6.2%. Core …
Verdict – Short-term neutral. DCE iron ore May23 contract rebounded during the day, as expected the iron ore maintained rangebound between 840- 860 during most of time in February. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI potentially enter bullish territory. Hourly MACD potentially create gold cross. The first support is …
Continue reading “Iron Ore DCE May23 Daily Technical Review 14/02/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro： • EU increase the growth rate of economy from 0.3% to 0.9%. At the same time, EU decreased the inflation expectation from 6.1% to 5.6% in 2023. EU indicated that Euro potentially had escaped technical recession. Iron Ore Key Indicators: • Platts62 $121.85, …
Verdict – Short-term neutral. DCE iron ore May23 contract retreated from high during the day, as expected failed to extend gains. Mid-run MACD(daily chart) indciated a 35-trading-day in bearish territory, which created a bearish divergence with previous upticking price. Hourly slow stochastic KD created dead cross in February 10th and maintained weak. The first support …
Continue reading “Iron Ore DCE May23 Daily Technical Review 13/02/22”
Market Verdict on Iron Ore： • Neutral. Macro： • China January CPI up 2.1% on the year, lower than expected 2.3%, up 0.8% on the month, refreshed new high since January in 2021. China January PPI down 0.8% on the year, down 0.4% on the month. Iron Ore Key Indicators: • Platts62 $126.10, …
