Noticing: The volume on the Iron Ore China (62% FE Fines) Future always spikes at the start of a new month, declining in the weeks ahead. Coinciding with new orders at month end/start? At current levels, IO remains above it's 8-day EMA but may be vulnerable to a bearish reversal. The RSI is signaling bearish divergence (lower highs) while the MACD has a pending...
Iron ore futures is reversing upon a weekly stretched ABCD completion which is confirmed by price action hitting SSR resistance and breaking down below key MA support.
Iron ore prices has been supported largely by supply issues but demand is being tested this trade war. Not sure those highly indebted property developers in China, especially those which have been...
Iron started a huge rally since BMFBOVESPA:VALE3 disaster, now that rally is exhausted.
Both Stoch RSI and RSI show a Sell Signal. Price is way overbought and a needs to retrace for a while.
