Verdict – Short-term neutral to bearish.
DCE iron ore corrected during the day and saw a dead cross on Hourly MA5 and MA10, as well as a following dead cross on MA10 and MA20. Hourly slow stochastic KD created a dead cross in the first hour of T+1 session yesterday. CCI fell sharply from bullish territory to bearish territory during the day. MACD created dead cross in hourly chart today. Short-run technical signals were indicating a further room to test low.
The first support is 871.5,the first resistance is 914.0