A Room with a Technical View 08/08/22

Capesize September Futures – We noted on the last report that the futures were technically bullish based on higher highs and higher lows; however, with the RSI at 50 and the stochastic overbought, momentum was warning that if the RSI moved below 50, we could be vulnerable to a test to the downside. The RSI …

Iron Ore DCE January Daily Technical Review 08/08/22

Verdict – Short-term neutral.   DCE iron ore January contract rebounded significantly during Friday night session, however stay flat during most time of Monday. The previous high at 745.0- 745.5 level provided effective resistance. Thus iron ore needs to breakthrough 745.0 with expanding volume to return to the fast rebound tunnel. Hourly slow stochastic potentially …