Iron Ore DCE May24 Daily Technical Review 08/01/24

Verdict- Neutral to Bearish.

DCE May24 contract corrected as expected from previous report. Hourly MACD widened in bearish territory. Hourly slow stochastic KD corrected and close to oversold area. Hourly CCI entered bearish territory. Iron ore potentially test low in next session.

First support 969.0. First resistance 1009.5.