Iron Ore DCE Sep24 Daily Technical Review 11/06/24

Verdict- Neutral to Bearish. DCE Sep24 corrected significantly during the trading day with expanding volume and growing open interest, indicating new sellers entered market. Hourly MACD created bearish divergence. Hourly slow stochastic KD created dead cross. Iron ore potentially test low in the following sessions. First support 780.0. First resistance 838.5  

Iron Ore DCE Sep24 Daily Technical Review 07/06/24

Verdict- Neutral. DCE Sep24 rebounded as expected, however returned to last closing level. Hourly MACD narrowed in bullish territory. The intra-day high was only 1 yuan above the past R1, indicated iron ore saw effective resistance around 850.0 – 851.0. Hourly CCI corrected from overbought area to neutral area. Iron ore entered consolidation area in …