bullish

Iron Ore

[IO Technicals Weekly 2024/​39] Iron Ore Surges on China Stimulus

235 Views01 Oct 2024 00:26
China's largest stimulus since the pandemic pushed SGX Iron Ore Futures to new highs last week, however technical indicators highlighting overbought conditions setting up a potential correction.
What is covered in the Full Insight:
  • Introduction
  • Stimulus Announcement Drives IO Rally
  • Short-Term Moving Averages Signal Sharp Bullish Reversal
  • RSI and MACD Signal Bullish Momentum but Overbought Conditions
  • Volume Profile Shows Thinning Volume at Top End of Rally
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