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Iron Ore DCE September23 Daily Technical Review 05/05/22

Verdict- Neutral. DCE Sep23 contract tested low and recovered loss by the last two hours. In mid-run, a loss on 700.0 area meant a bearish trend in continuance. In short-run, a recover above 700.0 would mean a potential rebound. Hourly slow stochastic KD created gold cross below oversold area. Hourly MACD narrowed in bearish territory. …

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Iron Ore DCE September23 Daily Technical Review 04/05/22

Verdict- Neutral. DCE Sep23 contract corrected during the day, majorly impacted by the weak sentiment in commodity market. Iron ore once broke important support at 698.5, however quickly recovered. If a breakdown on current level by 698.0- 700.0 in next few trading sessions, iron ore potentially return to bearish trend in mid-run. Hourly slow stochastic …

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