Verdict- Neutral.
DCE Jan24 contract rebounded slightly as expected. Hourly MACD narrowed in bullish area. Hourly candles indicated that iron ore pulled back to last support area from 770.0 –777.0. The short-run resistance was 789.0, which was the last high created in June 26hth. Short-run technical signals were indicating a consolidation.
First support 759.0. First resistance 789.0.
