SGX TSI Iron Ore CFR China (62% Fe Fines) Index Futures,Jun-2024,Composite FuturesSGX
Description
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An incoming Death Cross formation may add to iron ore's downside in the coming weeks. The 50-day Simple Moving Average is on track to intersect the 200-day SMA. Prices found support at the September 2020 high, but the path of least resistance appears to be to the downside with a descending channel.