Iron Ore DCE Sep24 Daily Technical Review 15/05/24

Verdict- Neutral.

DCE Sep24 corrected during the past trading day, however regained support at 851.0 level. Hourly slows stochastic KD created gold cross above oversold area. Hourly CCI return to neutral area. Hourly MACD widened in bearish territory. Maintain neutral verdict in short-run as long as iron ore standing above 851.0 level.

First support 851.0. First resistance 868.0.