FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore May23 contract corrected as expected last week, the open positions decreased by 100,000 lots during the day with massive retreat in short-run investors before Chinese New Year. Hourly CCI entered bearish territory. Hourly slow stochastic KD corrected after a dead cross created above overbought area. …
Continue reading “Iron Ore DCE May23 Daily Technical Review 16/01/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro： • China exported 3.32 million automobiles in 2022, up 56.8% on the year. Import 878,000 vehicles, down 6.2% on the year. China produced 27.02 million automobiles, up 3.4% on the year. Sales at 26.86 million vehicles, up 2.1% on the year. • The initial …
Market Verdict on Iron Ore： • Neutral. Macro: • The annual rate of CPI in the U.S. in December was 6.5%, expected 6.50%, and the previous value was 7.10%. • Research Center of the Chinese Academy of Sciences: China’s economy condition maintain resilient in 2023, and the annual GDP growth rate is expected to …
Verdict – Short-term neutral. DCE iron ore May23 contract broke important resistance at 856.0. The contract was only 11.5 yuan from listed high. Hourly MACD widened in bullish territory. Hourly KD reached oversold area after two gold crosses created during the past two trading days. CCI entered bullish territory. Short-run signals were indicating potential to …
Continue reading “Iron Ore DCE May23 Daily Technical Review 12/01/22”
Market Verdict on Iron Ore： • Neutral. Macro: • China National Bureau of Statistics: China PPI in December down 0.7% on the year, down 0.5% on the month. CPI up 1.8% in December, flat from last month. • China’s regulatory authorities have preliminarily determined the list of high-quality developers to implement the “Balance Sheet …
Verdict – Short-term neutral. DCE iron ore May23 contract rebounded and maintained strong for the second trading day. However the strength of the rebound need to test important resistance at 856.0 level. Hourly MACD was stable above 0 axis. Hourly slow stochastic KD potentially create dead cross in overbought area. Iron ore open positions …
Continue reading “Iron Ore DCE May23 Daily Technical Review 11/01/23”
Market Verdict on Iron Ore： • Neutral. Macro: • China PBOC statistic indicated that December M2 up 11.8%, up 2.8% on the year, lower than 12.4% in November. Iron Ore Key Indicators: • Platts62 $118.70, -1.10, MTD $118.07.Seaborne saw the most active trade in January yesterday. IOCJ traded at $137.2. MACF traded at …
Verdict – Short-term neutral. DCE iron ore May23 contract recovered partial loss created by yesterday and brought the trend back to consolidation in short-run. Hourly MACD entered a bullish territory. Similarly, hourly CCI approached bullish territory. Hourly candles created a important gap from 823.5-826.5, which potentially become a support in short-run. The first support is …
Continue reading “Iron Ore DCE May23 Daily Technical Review 10/01/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro： • ECB announced that the strong EU salaries increase would become important factor to support interest hike. • U.S. Atlantic Federal president Raphael Bostic predicted a 1% economy growth in U.S. in 2023 instead of recession. Bostic believed that inflation rate potentially drop to …
Verdict – Short-term bearish. DCE iron ore May23 contract from hourly candles chart saw a significant reversal pattern, which indicate a potential to test low in next few sessions. A recover on 830.0 would indicate a short-run rebound, however the main trend reversed from a bullish to a correction phase in short-run. The first support …
Continue reading “Iron Ore DCE May23 Daily Technical Review 09/01/22”
