Verdict – Short-term neutral.
DCE iron ore September contract rebounded and ended the previous correction after broke through the important resistance at 783.0 and made it to a support. The 783.0 level has been support and resistance level for many times. Hourly MACD created gold cross. Slow stochastic KD rebounded significantly. Hourly CCI reached bullish territory. However trading volume was smaller compared with yesterday. Short-run signals were indicating a neutral sentiment.
The first support is 783.0,the first resistance is 831.0
