Verdict – Short-term neutral.
DCE iron ore January contract tested low and recovered most of loss during the day. In short-run MACD potentially re-enter into bullish territory. However buyers should be aware of the short-run money taking gains after filled up the technical gap created in Asia morning. If a breakthrough on 750.0 would indicate a new rebound trend built.
The first support is 726.0. The first resistance is 750.0
