Verdict – Short-term neutral to bullish.
DCE iron ore refreshed historical new highs during the current two trading days. Open interest indicated new long positions were built to drive market up. Hourly MACD expanded. Hourly CCI was approaching new high in March. Be aware of the resistance on historical high area in 1180.0- 1185.0 area, which resisted price many times.
The first support is 1089.5, the first resistance is 1185.0
