Iron Ore DCE September23 Daily Technical Review 24/07/23

Verdict- Neutral. DCE Sep23 contract corrected, however in general maintain in rangebound trading. Hourly MACD flattened in oversold area. Hourly CCI approached bearish boundary. The higher lows from hourly charts were indicating a strong support. However the resistance area from 851.5- 854.5 last for two weeks. First support 823.5. First resistance 854.5.  

Daily Virtual Steel Mill Report 24/07/23

Market Verdict on Iron Ore: • Neutral.   Macro: • China announced support for property construction by saying the government will boost the renovation of urban villages. It will also seek more private capital in the projects to expand domestic demand and push forward development of cities.   Iron Ore Key Indicators: • Platts62 $115.35, …