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Verdict- Neutral. DCE Jan24 contract rebounded during the trading day. From hourly chart, slow stochastic created two higher gold crosses. CCI reached bullish territory. MACD created gold cross and widened in bullish territory. The support on 941.0 was significant, since iron ore saw reversal twice during the past three trading days. A breakthrough on the …

Continue reading “Iron Ore DCE January24 Daily Technical Review 30/11/23”

Verdict- Neutral. DCE Jan24 contract rebounded slightly during the entire trading day. The major contract expected to roll to May24 in the next few trading days. From hourly chart, MACD narrowed in bearish territory. Hourly slow stochastic KD rebounded after a gold cross created last night. A rebound required a breakthrough on 964.5. Otherwise iron …

Continue reading “Iron Ore DCE January24 Daily Technical Review 29/11/23”