Iron Ore DCE May24 Daily Technical Review 26/03/24

Verdict- Neutral to Bearish.

DCE May24 contract broke previous support at 827.5 and accelerated correction. From hourly chart, MACD widened in bearish territory. Hourly slow stochastic KD deepened correction after three lower dead cross from Mar 22nd to Mar 26th. Hourly CCI was in bearish territory. Short-run signals indicated a lower area in the next few sessions.

First support 800.0. First resistance 827.5.