Iron Ore DCE May24 Daily Technical Review 07/12/23

Verdict- Neutral to Bullish.

DCE May24 contract rebounded as expected from last technical report. Hourly MACD widened in bullish territory. Hourly slow stochastic KD entered overbought area. Iron ore is approaching listed high. Be aware of the taking gains activities around listed high at 958.0.

First support 927.5. First resistance 958.0.