Verdict- Neutral to bearish. DCE Sep23 contract corrected significantly, however supported by 824.5, which was similar level to 824.0 created in July 19th. Thus, some market participants recogonise it as a periodic bottom. However, iron ore in long-run reversed. A breakdown on 824.5 would mean an entrance to bear round. First support 824.5. First resistance …
Continue reading “Iron Ore DCE September23 Daily Technical Review 28/07/23”