Iron Ore DCE January 24 Daily Technical Review 19/09/23

Verdict- Neutral to Bearish.

DCE Jan24 contract corrected for the second trading day, a breakdown on 859.5- 861.0 level would confirm a mid-run correction trend. Hourly MACD widened in bearish area. Hourly slow stochastic KD created three lower dead crosses and continue to drop. Hourly CCI entered bearish area.

First support 859.0. First resistance 881.5.