Iron Ore DCE May Daily Technical Review 8/2/22

Verdict – Short-term neutral to bearish. DCE iron ore May22 contract retreated significantly during the last half hour with increasing volume. Hourly MACD created a dead cross. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI created bearish divergence with candles before the last trading hour. Iron ore potentially test low in …