In today’s briefing:
- [IO Technicals Weekly 2024/41] Iron Ore Prices Drop Amid Disappointing Stimulus Signals
[IO Technicals Weekly 2024/41] Iron Ore Prices Drop Amid Disappointing Stimulus Signals
- Iron ore prices dropped below $105/ton on 8 Oct after China’s NDRC failed to announce new stimulus measures, tempering bullish sentiment from earlier liquidity injections.
- Chinese portside inventories grew by 590k tons, reaching 147.84 million tons by 11 Oct, driven by higher arrivals and slower post-holiday consumption.
- While RSI signals bullish momentum, MACD shows a fading rally. Prices approach the critical 200-day moving average at $110/ton, posing a potential resistance point.
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