Iron Ore DCE May23 Daily Technical Review 17/02/22

Verdict – Short-term neutral.

DCE iron ore May23 contract corrected after reached periodic high at 893.0. However be a ware of current resistance area from 883.0- 893.0. Hourly MACD created gold cross. Hourly CCI entered bullish territory. Short-run technical were indicated a resilient level, however testing high period.

The first support is 880.0. The first resistance is 893.0