Verdict – Short-term neutral to bearish.
DCE iron ore January contract created a listed low during the day, however recovered some loss during the last trading hour. Hourly CCI left bearish territory. Hourly MACD potentially narrow. Hourly slow stochastic KD created gold cross in oversold area. Technical signals were indicating an oversold rebound, however in mid-run the bearish trend yet to reverse.
The first support is 660.0, the first resistance is 693.5
