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