Iron Ore DCE January Daily Technical Review 23/08/22

Verdict – Short-term neutral to bullish.   DCE iron ore January successfully breakthrough the important resistance at 700.0, which used to be a level to see the most market reversals since the contract listed. Thus, 700.0 level is also seen as an intra-day level support from now on. Hourly slow stochastic KD created gold cross …

Iron Ore DCE January Daily Technical Review 22/08/22

Verdict – Short-term neutral.   DCE iron ore January rebounded, however resisted by important neckline area at 700.0. Hourly MACD flattened above 0 axis. Hourly CCI decreased to bearish territory. Technical signals were indicating the price movement entered a consolidation period. However a breakthrough on 700.0 level would lead iron ore back to strong rebound …