Iron Ore DCE May24 Daily Technical Review 07/03/24

Verdict- Neutral. DCE May24 contract traded in smaller range as expected. The high of 896.0 created an intra-day resistance for next session. Iron ore in general moved within the 860.5 – 905.0 rangebox as mentioned in early of the week. Hourly slow stochastic KD potentially create dead cross below oversold area. Hourly CCI reached bullish …

Iron Ore DCE May24 Daily Technical Review 06/03/24

Verdict- Neutral. DCE May24 contract traded in smaller range as expected. From hourly chart, the support was clearly at 860.5, which was the lower bound of the rangebox. However the high of rangebox decreased from 905.0 to 895.5 and 885.5 gradually. The good news is that hourly MACD created gold cross, along with CCI left …