Market Verdict on Iron Ore： Neutral to bullish. Macro China NBS: Jan- Aug industrial profit above designated scale amount reached 5.5 trillion yuan, down 2.1% on the year. Nord Stream AG found that three pipelines were damaged, which is unprecedented. The Company was not able to estimate when the natural gas transmission infrastructure will …
Tag archives: iron ore
Iron Ore DCE January Daily Technical Review 27/09/22
Verdict – Short-term neutral. DCE iron ore January contract once approached 722.0, however returned to important area at 718.5, which used to be a strong resistance yesterday. Hourly CCI was close to bullish territory. Hourly MACD was preparing to enter bullish territory as well. A breakthrough on 728.0 would extend the growth. Otherwise iron …
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Iron Ore DCE January Daily Technical Review 26/09/22
Verdict – Short-term neutral. DCE iron ore January contract corrected and recovered loss during the day, closed with a doji. Houlry slow stochastic KD created gold cross above oversold area. Houlry MACD narrowed below 0 axis. Intra-day aggregated trading volume grew by 1/3. The 718.5 became important intra-day resistance. The first support is …
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Daily Virtual Steel Mill Report 26/09/22
Market Verdict on Iron Ore： Neutral to bullish. Macro To stabilize foreign exchange market expectations and strengthen macro prudential management, the People’s Bank of China has decided to raise the foreign exchange risk reserve ratio of forward exchange surrendering from 0-20%. U.S. Nasdaq corrected 5.03% during last week, total down 16.7% from August 12th, …
Iron Ore DCE January Daily Technical Review 23/09/22
Verdict – Short-term neutral to bullish. DCE iron ore January contract corrected significantly during the last trading hour, gave back major gains from yesterday. Iron ore expected to consilidate in 700.0 – 728.0 range area in short-run. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross below overbougt area. Hourly …
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Daily Virtual Steel Mill Report 23/09/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro： • BOE hiked interest rate by 50 bps to 2.25%, in line with expectations. • The Asian Development Bank released a report of Asian Development Outlook 2022, and lowered the economic growth forecast of developing Asian economies to 4.3% this year, compared with 5.2% …
Iron Ore DCE January Daily Technical Review 22/09/22
Verdict – Short-term neutral to bullish. DCE iron ore January contract closed high with new built open interest, however the new positions increased was slight smaller than the positions left yesterday. The money movement was suggesting the current market was cautious on the growth as mid-run. Hourly MACD and CCI both entered bullish territory. …
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Daily Virtual Steel Mill Report 22/09/22
Market Verdict on Iron Ore： Neutral to bullish. Macro: U.S. Federal increased 75 bps in September FOMC to 3.00-3.25%. Powell quoted the interest plot matrix that the Federal potentially increase 100-125 bps for the remaining of 2022. The Asian Development Bank released a report of Asian Development Outlook 2022, and lowered the economic growth …
Iron Ore DCE January Daily Technical Review 21/09/22
Verdict – Short-term neutral. DCE iron ore January contract tested low and recovered as expected with expanding volunme. However iron ore needs to test the effectiveness of major support at 700.0 level. Hourly CCI moved from bearish territory to neutral area. Hourly slow stochastic KD created gold cross in oversold area. Technical signals were …
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Daily Virtual Steel Mill Report 21/09/22
Market Verdict on Iron Ore： Neutral. Macro European Central Bank President Lagarde is expected to further increase interest rates. ECB indicated that the inflation prospect will determine the terminal point of interest rate. Canada August CPI up 7% on the year, lower than 7.6% in July, lower than estimated 7.3%. Japan core CPI up …