Iron Ore DCE Jan27 Daily Technical Review 02/09/24

Verdict- Neutral.

DCE iron ore corrected with increasing volume. The open interest decreased because of long covering. Hourly MACD widened in bullish territory. Hourly slow stochastic KD reached bearish territory. Hourly CCI reversed from bearish territory and approached neutral territory. In short-run, iron ore potentially test low in next session.

First support 714.0. First resistance 736.0.