Verdict – Short-term neutral to bearish.

 

DCE iron ore September down , created the biggest single day drop since Jun 20th. The gap area from 677- 694.5 became the major resistance area. Hourly CCI slightly picked up approaching the boundary of neutral area. Technical signals were indicating a potential to test low in next few sessions.

 

The first support is 600.0. The first resistance is 677.5.