Verdict – Short-term neutral to bearish.
DCE iron ore January contract broke the last defense at 652.0 as long-run support. Iron ore fell into bearish territory. A return to neutral needs to breakthrough 667.0 as intra-day high. Hourly MACD widened below 0 axis. Hourly slow stochastic KD entered bearish territory. CCI rejected by the lower boundary of neutral area.
The first support is 613.0. The first resistance is 667.0
