Verdict- Neutral.
DCE Sep23 contract consolidated during the trading day. The low of the day once broke the long-run support at 675.5, however recovered fast after the test low. The high of day reached 695.0, which was still far from 700.0. Hourly MACD narrowed below oversold area. Hourly slow stochastic KD brewing breakthrough in oversold area. The current market need to see an effective breakthrough on 700.0 to confirm a true rebound.
First support 674.0. First resistance 700.0.
