Verdict – Short-term neutral to bearish.
DCE iron ore May23 contract entered a short-run correction phase from hourly candles chart. Hourly MACD located in bearish territory. However hourly CCI recovered from bearish territory to neutral area. Iron ore has confliction on the level of 840.5-841.0 currently. Iron ore expected to test low in next few sessions.
The first support is 820.0. The first resistance is 860.5
