KIO (Kumba Iron Ore) 1M Chart Analysis
Building on the previous analysis, the KIO monthly chart shows a large falling wedge. If the price finds support at the lower trendline (4), it could rebound toward the upper trendline, with an initial target around 495.
RSI supports a potential bounce, maintaining a trendline that has held since 2017. Confirmation of support at these levels could signal a bullish reversal.
Key risks:
Building on the previous analysis, the KIO monthly chart shows a large falling wedge. If the price finds support at the lower trendline (4), it could rebound toward the upper trendline, with an initial target around 495.
RSI supports a potential bounce, maintaining a trendline that has held since 2017. Confirmation of support at these levels could signal a bullish reversal.
Key risks:
- China's Economy: Stimulus efforts face challenges from weak housing markets and high debt, which could limit iron ore demand.
- Geopolitical Tensions: Trade tensions add uncertainty to market stability.
- Iron Ore Market Dynamics: Analysts predict that China's iron ore imports could reach a record high of up to 1.27 billion tons in 2025, driven by abundant supplies from top producers. However, steel demand is expected to decline by 1.5% in 2025, following a 4.4% decrease in 2024, due to a prolonged property crisis. This scenario suggests potential downward pressure on iron ore prices, with forecasts ranging from $75 to $120 per ton in 2025.
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Penafian
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.