Verdict – Short-term neutral, slow down on correction.
DCE iron ore September tested two months low at 1094.0 and rebounded fast before closing to recover partial loss. In general, the support around 1110- 1113.5 was strong even it was broken during the market, since price and volume went up to push price back quickly. A support on daily low tomorrow around 1094.5 would indicate a consolidation in continuance. Hourly CCI potentially leave bearish area. Short-run technical signals were indicating a slowdown previous correction.
The first support is 1094.5, the first resistance is 1142.5
