Iron Ore DCE Jan25 Daily Technical Review 01/08/24

Verdict- Neutral to Bullish.

DCE iron ore Jan25 rebounded as expected. Hourly MACD widened in bullish territory. Hourly slow stochastic KD approached bullish territory. Hourly CCI tried to breakthrough the boundary of bull and neutral area. Iron ore would accelerate the growth if breakthrough next resistance at 774.0.

 

First support 732.0. First resistance 774.0