Iron Ore DCE September23 Daily Technical Review 10/05/22

Verdict- Neutral. DCE Sep23 contract traded in a narrow range between 714.5 to 733.0. Slow stochastic KD created two dead cross above overbought area. Hourly CCI was rejected from the boundary of bullish territory. Hourly MACD narrowed in bullish territory. In short-run, iron ore potentially maintain neutral. First support 700.0. First resistance 733.0.