FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore May23 contract retreated back to slight bearish trend after rejected by 823.5 and 808.5 respectively. If a breakdown on 800.0, iron ore potentially accelerate the intraday correction in next few sessions. Hourly MACD widened below bearish territory. Hourly slow stochastic KD reached oversold area after created …
Continue reading “Iron Ore DCE May23 Daily Technical Review 12/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • IMF predicted the global economy growth rate at 2.7% in 2023, there was 25% probability that the growth rate would be lower than 2%. IMF predicted that at least 1/3 of the countries would fall into economic recession. Iron Ore Key Indicators: • Platts62 …
Market Verdict on Iron Ore： • Neutral. Macro: • U.S. last week jobless claims filed at 230,000, est. 230,000, last 225,000. • China November CPI up 1.6%, last 2.1%. China November PPI down 1.3%, down 1.3% last. Iron Ore Key Indicators: • Platts62 $110.70, +3.25, MTD $107.98. Brazil northern system rainy weather potentially …
Verdict – Short-term neutral. DCE iron ore May23 contract recovered major loss created yesterday. Thus, iron ore return to consolidation trend in high area. Hourly MACD potentially create gold cross. Hourly CCI entered bullish territory. Hourly slow stochastic KD rebounded after created a gold cross. A recovery on 799.5 level would confirm an official return …
Continue reading “Iron Ore DCE May23 Daily Technical Review 08/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • China state council published new measures on the pandemic control, which require no PCR test to public areas except schools, hospital and some densely populated areas. Travelling persons are not required to provide PCR test results and new tests. • Canada central bank would raise …
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • China Jan- Nov local debts issuance reached 7.3 trillion yuan, a historical high. • Many cities in China eased off the pandemic control in early this week, including optimise the PCR test, travel, and medical purchase. Iron Ore Key Indicators: • Platts62 …
Verdict – Short-term neutral. DCE iron ore May23 contract rebound slightly during the trading day as expected, rejected by major resistance at 800.0. May 23 become major contract in DCE with higher open interest. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI retreated to neutral area from bullish area. The intraday …
Continue reading “Iron Ore DCE May23 Daily Technical Review 05/12/22”
Market Verdict on Iron Ore： • Neutral. Macro: • G7 member countries and Australia reached a consensus to set roof price of Russia export oil at $60/barrel. • U.S. Labor Department statistics indicated that the November Non-Agricultural population reached 263,000 , beyond expected 200,000. Iron Ore Key Indicators: • Platts62 $107.30, +4.20, MTD …
Verdict – Short-term neutral to bullish. DCE iron ore January contract maintained growth. The iron ore spiked after broke main resistance 780.5 during the day. Volume decreased with more positions rolling to May contract. Hourly slow stochastic KD approached overbought area. Hourly CCI closed to bullish territory. The first support is 780.5. The first resistance …
Continue reading “Iron Ore DCE January Daily Technical Review 02/12/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro: • China Caixin Manufacturing PMI 49.4, up 0.2 compared to October. U.K. Manufacturing November PMI 46.5, better than expected 46.2. Japan Manufacturing PMI 49, last 49.4. EU November Manufacturing PMI 47.1, lower than expected 47.3. Germany November Manufacturing PMI 46.2, last 46.7. • U.S. …
