Verdict- Neutral to Bearish.
DCE Sep24 corrected as expected, new sellers entered market and led further correction. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD entered oversold area. The high of the day was rejected 50 cents below our first resistance at 850.0. Iron ore potentially test low in next few sessions and follow the bear trend.
First support 805.0. First resistance 850.0.
