Verdict – Short-term neutral.
DCE iron ore Sep22 contract traded in narrow range. Iron ore as expected exhausted at current level. The consecutive decreasing volume during past four days indicating the chasing high investors potentially started to enter watch and see mode. Open position decreased from yesterday. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross near overbought area.
The first support is 871.5,the first resistance is 912.5