Verdict – Short-term neutral.
DCE iron ore spiked over 4% during the day and gave back half of gains by closing. The current price movement potential exhausted by seeing MACD created a dead cross in higher area in hourly chart. Hourly slow stochastic KD also created dead cross in overbought area. Hourly CCI dropped from bullish territory to neutral area. Short-run technical signal is indicating an slow down on previous rebound.
The first support is 898.0,the first resistance is 950.0