Iron Ore DCE May Daily Technical Review 16/2/22

Verdict – Short-term neutral. DCE iron ore May22 recovered slightly during the day. Hourly MACD potentially create gold cross. Hourly slow stochastic KD created gold cross below 0 axis. Hourly CCI rebounded fast from bearish territory. Iron ore price rebounded on the back of 696.0 twice during the day. However the rebound continuance was uncertain. …