Iron Ore DCE Sep24 Daily Technical Review 20/06/24

Verdict- Neutral.

DCE Sep24 consolidated in narrow range as expected in previous days. Hourly MACD widened in bearish territory. Hourly CCI and KD were in neutral area. If iron maintain trading in 20 yuan/ton range, the price will be hard to see directional movement. A breakdown on 814.0 or a breakthrough on 840.0 potentially drive iron ore out of the range.

First support 814.0. First resistance 840.0.