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U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index FuturesU.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index FuturesU.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Futures

U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Futures

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HRC1! trade ideas

Steel Bouncing at the 50 days MASteel 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 2022. Cleveland Cliffs raised prices on CRS and SS, it is just a matter of time for them to hit HR. As said before, I am looking for a breakthrough upwards in the medium term.
COMEX:HRC1!
by alundgren98
1
Iron Commodity USASun 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 | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision. #debadipb #profitsolutions
COMEX:TIO1!
by Sunstorminvest
UK and Japan tarrif talks may end HRC rallyUS 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 1. Now we have fresh news: Bloomberg: Biden Commerce Chief Says U.K., Japan Steel Talks to Start Soon The U.S. expects to begin talks with the U.K. and Japan aimed at addressing the nations’ objections to steel and aluminum tariffs “reasonably soon,” and any solution must protect the American industries, President Joe Biden’s commerce chief said. Secretary Gina Raimondo said that she plans to discuss the steel issue with Japanese officials when she visits Tokyo next Monday on her first trip to Asia since taking office in March. The talks would follow a U.S.-European Union truce last month that allows the allies to remove tariffs. Buy the rumors and sell the fact. A potential deal with UK and Japan for tariff removal may ease the stell prices. Near term targets are mentioned on the chart
COMEX:HRC1!Short
by chartreader_pro
Commodity prices: Iron OreFrom 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 lack thereof) from China is what has driven the price of Iron Ore sub-100 dollars. Chinese authorities have ordered its steel manufacturers (large consumers of Iron Ore) to cut production to meet targets to reduce energy consumption and pollution across its provinces. China’s production restrictions are scheduled to last until mid-March 2022. According to S&P Global, Iron Ore outlook is unfavourable, with “pricing risk is to the downside” as supply tends to increase in the latter half of the year.
COMEX:TIO1!
by BlackBull_Markets
Is the bullish move of IRON ORE halted ?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 resistance is worth watching our weekly candle/bar charts for further weakness at current levels. Why bother at current levels with this analyssis ? Proof is in the pudding(see the published Point and Figure chart and the Bullish Price Objective from the base pattern). This suggests a potential end to the bullish move at current levels which is evident form other chart types. Correction for now is what I am saying. Weekly candle/bar charts will offer clearer view in regards to what may be unfolding.
COMEX:TIO1!
by thecharttechnician
Iron Ore - where to next?Thanks for viewing. This will just be a short one. My reasons for bearishness are: - bearish RSI divergence (higher price high shown as a lower high on the RSI - at a minimum indicates reduced momentum but normally precedes changes in price direction), - MACD histogram is trending downward quite steeply, - MACD moving averages look like they are starting to head towards a cross-over to the downside, - Declining volume over the past 18 months (seems to average over 400 in May 2019 and is about 120 now), - A generalised global industrial slowdown. I may be wrong, or I may be right but just too early, and there may be residual upside remaining. Medium term I see price heading back to ~$40 level. Protect those funds.
COMEX:TIO1!Short
by flyinkiwi10
Iron Ore FuturesNoticing: 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 bear cross. Price also becoming extended above the 200-day SMA. Current level: 103.10
SGX:FEF1!Short
by LD_Perspectives
2