Verdict – Short-term neutral to bullish.
DCE iron ore September contract rebounded massively and recovered the loss of yesterday. The active contract however created lower volume over the last three trading days. In short-run hourly candles entered a resisting area around 925.0 – 928.0. A rejection would indicate a potential correction. However an effective breakthrough to lead the iron ore price to 944.5.
The first support is 900.0,the first resistance is 944.5.