Iron Ore DCE Jan27 Daily Technical Review 03/09/24

Verdict- Neutral. DCE iron ore widened in bearish territory. Hourly slow stochastic KD created gold cross in oversold area. Hourly CCI approached neutral area. Iron ore potentially saw a small rebound from technical signals by next session. However, if a fast breakdown on 688.5 would bring market back to bearish. First support 688.5. First resistance …

Iron Ore DCE Jan27 Daily Technical Review 02/09/24

Verdict- Neutral. DCE iron ore corrected with increasing volume. The open interest decreased because of long covering. Hourly MACD widened in bullish territory. Hourly slow stochastic KD reached bearish territory. Hourly CCI reversed from bearish territory and approached neutral territory. In short-run, iron ore potentially test low in next session. First support 714.0. First resistance …