Verdict – Short-term neutral to bullish.
DCE iron ore January contract recovered all loss created yesterday and moved back to the rebound trend. Hourly MACD created gold cross near 0 axis. Hourly slow stochastic KD created gold cross in oversold area. Hourly CCI reached bullish territory. Short-run technicals were indicating iron maintain rebound in short-run.
The first support is 705.0. The first resistance is 731.0.