Verdict – Short-term neutral.
DCE iron ore Jan contract daily candle created a doji, however the intra-day high still create historic high. The Jan contract continue to roll, expected to finish early next week. The yesterday increase on position were proved as an intra-day turnover as most of them are decreased today. From hourly chart, slow stochastic KD is flattened on the bound of overbought level. Hourly CCI potentially create bearish divergence with current price. Technical signals are indicating an exhaustion on the last spike.
The first support is 921.5. The first resistance is 941.0
