Verdict – Short-term neutral.
DCE iron ore may contract tested low from February 8th, and then recover some gains during the day session. The major short positions were on September contract. The rolling expected to complete in late March seasonally. Hourly slow stochastic KD potentially create a gold cross above oversold area. CCI rebounded. Short-run signals were indicating a slow down on previous correction.
The first support is 1005.0, the first resistance is 1059.0
