bullish

IO Weekly Technicals Review [2025/03]: Uptrend to Persist

225 Views22 Jan 2025 09:04
SUMMARY
  • SGX IO Futures rose USD 6.75/ton, closing at USD 104.15/ton, driven by strong Chinese economic data and bullish sentiment.
  • SGX IO Futures Feb contract trades 19.4% below its last 5-year average (USD 128.93/ton).
  • SGX IO futures typically rise before CNY, tapering off 10 days after. Exceptions include 2024's pre and post CNY decline and extended rallies in 2021 & 2022 before sharp drops.
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