Verdict – Short-term neutral, slow down on correction.
DCE iron ore September recover after a huge correction, as expected last Friday. Hourly MACD potentially create a gold cross. Hourly slow stochastic KD potentially rebound from oversold area. Hourly CCI created a multiple bottom areas and rebound to neutral area. Technical signals were indicating an oversold and recovery, however the room of the rebound needs the resilience of better volume.
The first support is 1013.0, the first resistance is 1094.0
