Iron Ore DCE January24 Daily Technical Review 03/08/23

Verdict- Neutral to Bearish.

DCE active contract was rolled from Sep23 to Jan24 today, seeing a bigger trading volume and open interest in Jan24. MACD corrected in bearish territory from hourly chart. Slow stochastic KD entered bearish territory in hourly chart. Hourly CCI once tested year-low during the market hours at -362.

First support 697.0. First resistance 744.0.