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Iron Ore DCE May24 Daily Technical Review 02/02/24

Verdict- Bearish. DCE May24 contract returned to bearish tunnel after breakdown the intra-day support level by 955.0. Hourly MACD widened in bearish territory. Hourly slow stochastic KD entered oversold area. Hourly CCI entered bearish territory. Iron ore finally ended with slower rebound during last hour, however the 935.5 was an intra-day level support. First support …

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Iron Ore DCE May24 Daily Technical Review 01/02/24

Verdict- Neutral. DCE May24 contract saw an exhaustion after a round of correction by early half of the week. From hourly chart, MACD narrowed in bearish territory. Hourly slow stochastic KD created gold cross in oversold area and rebounded to neutral area. Hourly CCI escaped from bearish territory. Iron ore potentially starts consolidation before a …

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