Verdict – Short-term neutral.
DCE iron ore September contract tested low, however which was higher than the lower bound of consolidation range. Thus iron ore maintained in the consolidation range. Iron ore started to rebound during the last two hours, however volume was small. Iron ore technically consolidate in narrower range bounds. Hourly slow stochastic KD created gold cross above 0 axis. Hourly MACD created gold cross.
The first support is 1135.0, the first resistance is 1209.5
