FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore September contract rebounded slightly, however trading volume slumped by 30%, indicating the market currently has limited motive to reverse market back to bull. Hourly MACD potentially create gold cross. Hourly slow stochastic KD rebound fast after created a gold cross in oversold area. However the …
Continue reading “Iron Ore DCE September Daily Technical Review 26/4/22”
Market Verdict on Iron Ore： • Neutral. Macro • China central bank PBOC decided to decrease foreign exchange deposit rate by 1% to 8%, effective from May 15th. CNH appreciated 389 basis points after a 1766 depreciation over the previous four trading days. • US Treasury Secretary Yellen hinted that in order to get …
Verdict – Short-term bearish. DCE iron ore September contract reached limited-down several times during the day and closed only 2 yuan above limited down level. The trading volume increased significantly. Iron ore entered a mid-run bearish market. Hourly CCI refreshed new low since the Sep22 contract listed. Hourly MACD fell fast in bearish territory. …
Continue reading “Iron Ore DCE September Daily Technical Review 25/4/22”
Market Verdict on Iron Ore： • Bearish. Macro • EU issued a guidance document saying that it is feasible to pay on Russian natural gas with rubles, without violating the sanctions. • US Treasury Secretary Yellen hinted that in order to get rid of the highest inflation in 40 years, the United States is …
Verdict – Short-term bearish. DCE iron ore September contract broke the important support level at 885.0 – 887.0, entering a correction phase. A further breakdown on 876.0 potentially initiate an acceleration of correction. Hourly MACD tested 0 axis and corrected back. However CCI approached the boundary of neutral and bearish territory. Short-run bearish. The first …
Continue reading “Iron Ore DCE September Daily Technical Review 22/4/22”
Market Verdict on Iron Ore： • Neutral to bearish. Macro • CNH depreciated 300 basis points at 6.45, refreshed six-month records. • U.S. Federal official Mary Darly indicated that the 50 basis points interest rate increase was “very possible” in May. U.S. Federal potentially to raise interest rate to a neutral level. • Germany …
Verdict – Short-term neutral. DCE iron ore September contract tested a lower high compared to yesterday, however also supported by major level above important level 887.0. Iron ore hourly MACD corrected below 0 axis. Hourly CCI once approached the overbought level and corrected back to bearish territory. The support and resistance remain unchanged from …
Continue reading “Iron Ore DCE September Daily Technical Review 21/04/22”
Market Verdict on Iron Ore： • Neutral. Macro • China Loan Prime Rate at 1 year unchanged at 3.7%, est. 3.65%, last 3.7%. Five-year LPR at 4.6%, est. 4.55, last 4.6%. • U.S. Federal official Mary Darly indicated that the 50 basis points interest rate increase was “very possible” in May. U.S. Federal potentially …
Verdict – Short-term bearish DCE iron ore September contract collapsed as the China MIIT announced a decrease on crude steel production before noon. Iron ore broke the major resistance at 900.0 and erasing all growth on previous three trading days. Hourly CCI created the lowest since April 11th. Hourly slow stochastic KD created …
Continue reading “Iron Ore DCE September Daily Technical Review 19/04/22”
Market Verdict on Iron Ore： • Neutral. Macro • China first quarter GDP 4.8%, est. 4.2%, fourth quarter GDP at 4.0% in 2021. • World bank set up global GDP growth rate target at 3.2%, previously 3.2%. • The U.S. Fed shift to the hawkish to accelerate raising interest rates by 50 basis points …
