Iron Ore DCE Jan27 Daily Technical Review 29/08/24

Verdict- Neutral to Bullish. DCE iron ore rebounded as expected. Hourly MACD created gold cross after narrowed in bearish territory. Hourly CCI entered bullish area from neutral area. Iron ore is currently on the ascending cycle of the fourth wave according to Elliot Wave Theory. The daily low fell on the same level of yesterday, …

Iron Ore DCE Jan27 Daily Technical Review 28/08/24

Verdict- Neutral to Bullish. DCE iron ore corrected slightly during the trading day. Hourly MACD created dead cross. Hourly CCI entered neutral area from bullish territory. Hourly slow stochastic KD started to correct after a dead cross created in bullish territory. Short-run technical signals were indicating an exhaustion on previous rebound. However we maintain bullish …