When the Federal Reserve lowers interest rates, it tends to diminish the appeal of fixed-income assets due to lower yields, prompting investors to seek higher returns elsewhere. This shift often leads to increased investment in commodities, including steel, as they offer a hedge against inflation and potential for speculative gains in a low-rate environment. For...
Iron ore is the main component for many industries focus in china. China is economically weaker now and for sure it will affect the prices of iron ore. For moment its a sell
SGX:FEF2! chart mapping/analysis for med-long term swing trade strategies.
China's Iron (Ore) Dragon lays dormant while the country celebrates Golden Week (Oct 1st-Oct 7th).
Iron Ore Futures coiling like a steel roll in a series of Lower Highs & Higher Lows since October 2022.
Break above 116.60 = Bullish momentum towards 134.85 (38.2% Fib Retracement)
Break below 99.40 = Bearish momentum towards 77.60 (78.6% Fib Extension)
Seasonality typically favours the Bulls running strong into end of year - we'll see if it still rings true...
Iron ore has been punished quite heavy due to uncertain about china, however for moment it showed a trend up... is it correction or bull run? we dont know just follow the trend
The price of Iron Ore is coiling in a large triangle (blue uptrend & yellow downtrend) and a breakout in either direction is imminent. Bias would most likely be to the upside as there is quite a bit of support - TL and Horizontal - around 98.
A technical update on the commodity.
- Unwinding from an overbought position on it's weekly chart. This follows a 'doji' candle formation for LAST week.
- This week we are seeing a further retracement at the previously identified supply zone.
- The $113 to $115 level is a potential target range.
Iron Ore Futures: Trading at more than 2x it’s mean over 200 days + has rallied into it’s declining 200-day simple moving average. Note that the commodity has also rallied significantly over the short term with a gain of 50% off it’s late October 2022 lows.
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In this video I break down the dollar chart. I quickly go through some fundamental data that's set to come out this week and at the end I give you some trade ideas I'm keeping an eye on.
I hope you enjoy. Please feel free to add anything you'd like in the comments!
By the end of 2022, the price of iron ore is expected to hit their lowest level in three or four years as global demand for the commodity continues to slow down, particularly from China, the world's largest consumer of iron ore.
In recent years, China has been cutting down its iron ore demand especially after the government placed restrictions on the industry to...
