Iron Ore DCE May23 Daily Technical Review 28/03/22

Verdict- Bearish in Short-run.

DCE May23 contract re-entered bullish trend in short-run, as daily successfully broke important resistance at 883.0 and closed on 1 yuan below. Iron ore largely break the resistance again in the next session and approach 900.0. Hourly slow stochastic KD entered over-bought area. Hourly CCI entered bullish territory. Hourly MACD moved stably in bullish area.

First support 860.0. First resistance 900.0.