Verdict- Neutral.
Iron ore closed corrected slightly from last Friday. Hourly MACD narrowed in bullish territory, however in general flat. Hourly CCI approached the boundary between neutral and bearish area. Iron ore strong support at 791.0 – 793.5 area. The major resistance area was 808 – 809.5 area. Iron ore potentially maintain neutral unless breakthrough these current boundaries on either direction.
First support 791.0. First resistance 809.5.
