Verdict – Short-term neutral.
DCE iron ore January contract maintained neutral in short-run after a round of rebound from late September. However iron ore potentially keep pushing if a new breakthrough on 748.0-753.5 area. Hourly KD created gold cross above oversold area. Hourly CCI rebounded stably. Technical signals were indicating the correction motivation was limited and thus neutral in short-run.
The first support is 712.0, the first resistance is 753.5
