Iron Ore DCE May23 Daily Technical Review 03/01/22

Verdict – Short-term neutral. DCE iron ore May23 contract corrected as expected. Hourly slow stochastic KD created a dead cross below overbought area. Iron ore maintained above 40-hour moving average after November 25th. Thus, it take sometime to evaluate a real correction at this level. Moreover, the intraday low used to be strong support last …