Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA |...
Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA |...
The price has rebounded today, after falling to the support area of 138-140. However, the fact that the price has not broken through the confluence between EMA21 and EMA100 above H4 further with EMA21 cutting below EMA100 has raised concerns for the buyers. => Recommendation: Sell if the price rises to 158, STP 172, TP1: 140, TP2: 130.
On going to wave 1, This is my prediction for Iron ore . 100% wrong and if it goes right then its only coincidence. Only prediction.
China's February iron ore contract with its exit from the downtrend channel and its high stabilization is likely to have its uptrend
Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA |...
Iron ore prices are breaking out from a Cup and Handle pattern. The late-October price gap may fill if prices continue higher. Prices may have seen a bottom back in November, with the bullish fundamental narrative strengthening as China moves to support growth. A reversal, however, may see a move back to the 100 psychological level.
Steel finding strong support at the 50 days MA on the weekly graph, it should created pressure upwards. However, looking at the daily graph, steel is fighting for a breakthrough. Consistent downward pressure being exerted by the 200 days MA. At this point I am neutral, but with a tendency to believe it will go up once automotive demand starts to hit around Q2...
Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA |...
US Relaxes Tariffs on Steel and Aluminum from Europe, Looking Next to UK and Japan The US and the EU have reached an agreement that will replace Section 232 steel and aluminum tariff against EUs 27 countries with a quota system that could result in lower steel prices. There had been speculation for months that the sides would come to an agreement by November...
From mid-September until the end of October, Iron Ore appeared to have found a safe space above US $100. Now, after a steep decline beginning October 27, 2021, Iron Ore has started to test May 2020 lows, close to US $90 per metric tonne. The commodity is grating against predictions by ANZ Bank (ASX: ANZ) for it to “find a floor around current levels”. Demand (or...
Steel has crossed the 50 days MA for the first time since the start of the bull run back in august last year. That could mean a retracement to the 200 days MA at around $1500. Also, both RSI and MACD are weak relative to recent levels.
200 Days and 180% gain is a handsome profit indeed. I wonder if any of those panty traders feel a bit sweaty by now. I am wearing shorts and will only be handing them over once we see Hot Rolled Steel at1050 levels. Until then.
SUMMARY: Short, Australian primarily delivers to China. Demand is falling fast suggestion a sharp contraction is around the corner for China, it will be the first in decades. This is a good indicator to forecast China's future growth/contraction pace. S&P500 below is another good indicator to view in tandem.
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.
Bounce of 61.8% retracement. Big bounce interesting level could result in consolidation for a bit
First I urge you to look at a weekly candle/bar chart of the commodity. Can you see the strong bearish reversal candle/bar ? This suggests correction in the short term is upon us. To early to forecast the magnitude of this correction which may even turn out to be major trend reversal. More data is required for this. Fact that the price action is at a significant...