Verdict – Short-term neutral.
DCE iron ore gave back some gains after the spike on last hour of Friday night and first 10 minutes of the day session. At the same time, volume return to normal level as well. The market entered a neutral to bullish range however a confirm of breakthrough on 827.0-834.0 would potentially bring in a new round of push. The 810.5 was the next support observed by intra-day low. The second support was the previous resistance arround 805.5 level.
The first support is 810.5. The first resistance is 827.0.
