Verdict- Neutral to bullish.
DCE Sep23 contract opened high and corrected to lower level before closing. In general, iron ore still in a slow rebound structure. Iron ore could regain support fast unless a breakdown on 698.5. Hourly MACD maintained in bullish territory. Hourly CCI corrected after rejected by bullish area. However, iron ore movement expected to slow down because of a pre-holiday mood of investors.
First support 698.5. First resistance 721.0.
