Verdict – Short-term neutral.
DCE iron ore September contract broke through the important resistance at 839.0 and refreshed seven-day high, however corrected back with lower aggregated volume. Hourly MACD potentially create dead cross above 0 axis. Hourly slow stochastic KD created dead cross this morning and deepened correction. Technical signals indicate a potential to test low, however short-run neutral with no clear direction.
The first support is 800.0,the first resistance is 849.0
