Verdict – Short-term neutral to bearish.
DCE iron ore created the high since December 10th, the first significant resistance at 1005.5. A breakdown on 959.5 potentially bring market back to bearish territory. From hourly chart, MACD was narrowing below 0 axis. Hourly slow stochastic KD created gold cross on the upper bound of oversold area.
The first support is 959.0. The first resistance is 1005.5
