Iron Ore DCE September23 Daily Technical Review 10/04/22

Verdict- Neutral to Bearish in Short-run.

DCE Sep23 contract corrected as expected from last report. A breakdown on 771.0 would accelerate correction. Hourly slow stochastic KD approached oversold area. Hourly CCI was in bearish territory. Hourly MACD was in bearish territory. Both short-run and mid-run signals were indicating a continious correction.

First support 750.0. First resistance 802.0.