Verdict – Short-term neutral to bullish
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DCE iron ore January contract broke the highs of last two trading days, returning to bullish tunnel. However hourly MACD consolidated around 0 axis. Hourly slow stochastic KD potentially create dead cross in overbought area. Iron ore maintain in the ascending tunnel. A breakthrough on 745.5 would indicate a new push.
The first support is 735.0. The first resistance is 745.5
