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Verdict – Short-term neutral. DCE iron ore May23 contract saw some exhaustion by testing high. In long-run the time window is not friendly to iron ore, since iron ore futures have rebounded over 4 months. Hourly slow stochastic KD created dead cross below overbought area. Hourly MACD narrowed in bullish territory. Hourly CCI approached overbought …

Continue reading “Iron Ore DCE May23 Daily Technical Review 08/03/22”

Verdict – Short-term neutral DCE iron ore May23 contract increased significantly during the day. Hourly slow stochastic KD approahed overbought area after gold cross. Hourly MACD created gold cross. Iron ore need to breakthrough 918.5- 923.5 area, to return to bullish-run. The level 918.5 used to be an upper bound of a gap, while 923.5 …

Continue reading “Iron Ore DCE May23 Daily Technical Review 07/03/22”