Iron Ore DCE May24 Daily Technical Review 22/01/24

Verdict- Neutral.

DCE May24 contract traded within narrow rangebound during the day as expected. Hourly MACD narrowed in bullish territory. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI broke overbought area to neutral area. Short-run technical signals were indicating a slow movement for iron ore market.

First support 915.0. First resistance 960.0.