Verdict – Short-term neutral to bearish.
DCE iron ore corrected during the day. Iron ore consolidated for most of January. The breakdown on 1005.5 would potentially trigger a big level correction. Hourly CCI created double tops and potentially reach the weak area below -100. Houly MACD was flattening. The short-term signals were indicating an exhaustion on previous correction.
The first support is 959.0. The first resistance is 1005.5
