Verdict – Short-term neutral.
DCE iron ore September tested low at important support area around 1209.0 and bounced back. Hourly slow stochastic KD potential to create gold cross. Hourly MACD potential to flatten below 0 axis. CCI created a rebound from bearish area. Technical signals were indicating neutral.
The first support is 1209.0, the first resistance is 1248.0
