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.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.