Verdict – Short-term neutral.
DCE iron ore September refreshed new high, however the last two-day rebound was along with significant smaller rebound. Thus, the extension of bullish run needs to see massive changing hands in the next few sessions. Hourly techncial signals were starting to show bearish divergence with price movement. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD fell from overbought area and created dead cross.
The first support is 900.0,the first resistance is 944.5
