Verdict – Short-term neutral.
DCE iron ore September gave back the last rebound, currently maintaining in the area from 768.0 – 817.5. A breakthrough out of this band would indicate a potential to create a direction. Otherwise, iron ore potentially exhaust and move in narrower range. Hourly MACD narrowed below 0 axis. Hourly slow stochastic KD reached neutral area. Short-run technical signals were indicating neutral sentiments.
The first support is 781.0. The first resistance is 810.0.
