Iron Ore DCE May24 Daily Technical Review 21/02/24

Verdict- Neutral to Bearish.

DCE May24 contract corrected as expected from previous report. Hourly MACD widened in bearish territory. Hourly slow stochastic KD entered oversold area. Iron ore tested high however rejected by 928.0 level. Iron ore maintained a downward trend.

First support 893.5. First resistance 928.0