FIS API Blog
Verdict – Short-term neutral. DCE iron ore Sep22 are rolling to Jan23, expected to finish within the week. Thus, it should be hard for September contract to attract more new buyers in the aftermarket. The contract was hit shortly after refreshing new high of the month. Hourly MACD maintained weak. Hourly slow stochastic KD …
Continue reading “Iron Ore DCE September Daily Technical Review 01/08/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China PM Li Keqiang held conference after the political conference held last week to promote investment and consumption, including acceleration on local debts, investment projects in the central budget, automobile consumption, green energy home appliances and green building materials. • China July PMI …
Verdict – Short-term neutral. DCE iron ore September corrected with both decreasing open interest and volume. Thus, iron ore potentially faces a correction or consolidation. Hourly slow stochastic KD corrected to neutral area after a dead cross created in overbought area. Hourly MACD created dead cross. The first support is 755.5. The first …
Continue reading “Iron Ore DCE September Daily Technical Review 29/07/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China and U.S. held tele-conference to discuss on the cooperation in economy development in future, and noted the tariff exemption to alleviate the inflation in U.S. Iron Ore Key Indicators: • Platts62 $117.95, +6.90, MTD $106.86. The term contract discounts for BHP’s …
China targets $148 bln in financing for cash-strapped developers – FT China will help property developers by issuing 1 trillion yuan ($148.2 billion) in loans for stalled developments, the Financial Times said on Thursday, as Beijing tries to revive the debt-stricken sector and relieve pressure on the economy. The People’s Bank of China (PBOC) …
Verdict – Short-term bullish. DCE iron ore September recovered loss from yesterday and refreshed new high from June 30th with expand volume. The breakthrough on resistance of 822.5 would confirm the price movement remaining strong. Otherwise, rejection would mean a considerable correction because current indicators were showing big volatilities rather than a flat structure. …
Continue reading “Iron Ore DCE September Daily Technical Review 28/07/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • U.S. Federal increased 75 basis points in last FOMC to 2.25-2.5%, as expected. • G7 revealed to set up a price-ceiling for Russian oil effective from December 5th. Iron Ore Key Indicators • Platts62 $111.05, -0.65, MTD $106.24. The term contract discounts …
Rio Tinto Inks Deal to Unlock Huge Simandou Iron Ore Project Rio Tinto Group said it’s formed a joint venture with the Guinea government and Winning Consortium Simandou to develop infrastructure including a railway and port, in a breakthrough that should help unlock the world’s biggest untapped iron ore deposit. “The parties will now …
Continue reading “Rio Tinto Inks Deal For Guinea iron ore project 28/07/22”
Verdict – Short-term neutral. DCE iron ore September failed to break through the concentrated trading level around 750.0 by closing. Thus, iron ore potentially reached periodic high area. Slow stochastic KD created dead cross in overbought area and deepened correction. Hourly CCI created bearish divergence. Hourly MACD potentially creating dead cross. Technical signals were …
Continue reading “Iron Ore DCE September Daily Technical Review 27/07/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • IMF decreased global GDP growth in 2022 from 3.6% to 3.2%. • U.S. white house indicated that the country would release 20 million barrels of crude oil supply from its national reserve, 1 million barrels on daily basis. • Chinese Machinery Association statistic …
