Iron Ore DCE September Daily Technical Review 25/4/22

Verdict – Short-term bearish.   DCE iron ore September contract reached limited-down several times during the day and closed only 2 yuan above limited down level. The trading volume increased significantly. Iron ore entered a mid-run bearish market. Hourly CCI refreshed new low since the Sep22 contract listed. Hourly MACD fell fast in bearish territory. …

Iron Ore DCE September Daily Technical Review 22/4/22

Verdict – Short-term bearish. DCE iron ore September contract broke the important support level at 885.0 – 887.0, entering a correction phase. A further breakdown on 876.0 potentially initiate an acceleration of correction. Hourly MACD tested 0 axis and corrected back. However CCI approached the boundary of neutral and bearish territory. Short-run bearish. The first …