Iron Ore DCE May24 Daily Technical Review 21/12/23

Verdict- Neutral to Bullish.

DCE May24 contract broke important resistance at 958.0, and accelerated rebound as expected. The next level was 975.5, listed high of May24 in DCE. Hourly CCI went high in bullish territory. Hourly slow stochastic KD entered overbought area. Hourly MACD widened in bullish territory.

First support 933.5. First resistance 975.0.