Verdict- Neutral to Bullish.
DCE May24 contract followed the significant rebound of China house developer equities as well as major commodities growth. Hourly CCI left neutral area and approached bullish territory. Hourly MACD created gold cross. Iron ore potentially test 915.0 as an intraday resistance with many positions built from 900.0 – 915.0 during the past few weeks. However the real short-run resistance would be 928.0, which was a previous high.
First support 880.0. First resistance 928.0.
