Verdict – Short-term neutral to bullish.
DCE iron ore September climbed fast in the first minute, rejected by the high of May 6th. Iron ore gave back half of gains by closing. Hourly slow stochastic KD created dead cross near the boundary of overbought area. Hourly CCI corrected to neutral area. MACD narrowed above 0 axis. Technical signals were indicating the rebound movement slowed down.
The first support is 842.0,the first resistance is 884.0
