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Iron Ore DCE Jan25 Daily Technical Review 31/07/24

Verdict- Neutral to Bullish. DCE iron ore Jan25 tested low last night and rebounded significantly during the day. The low of the day fell just on the first support we mentioned on last report. Hourly MACD was on bullish territory. However the first two long candles during the morning session with massive volume indicated a …

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Iron Ore DCE Jan25 Daily Technical Review 30/07/24

Verdict- Neutral. Iron ore corrected significantly during the trading day by 3.22%. Iron ore active rolled from Sep24 to Jan25 during this week. New sellers and previous rolling gathered in January contract as increased aggregated open interest, which triggered big drop. Hourly MACD widened in bearish territory. Hourly slow stochastic KD reached oversold area. In …

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