Iron Ore DCE May23 Daily Technical Review 28/03/22

Verdict- Bearish in Short-run. DCE May23 contract re-entered bullish trend in short-run, as daily successfully broke important resistance at 883.0 and closed on 1 yuan below. Iron ore largely break the resistance again in the next session and approach 900.0. Hourly slow stochastic KD entered over-bought area. Hourly CCI entered bullish territory. Hourly MACD moved …

Iron Ore DCE May23 Daily Technical Review 27/03/22

Verdict- Bearish in Short-run. DCE May23 contract didn’t create deeper correction as expected last Friday. Iron ore stablised and recovered major support area from 855.0 – 860.0. The next resistance from 883.0 would potentially provide strong pressure, which was a neckline in mid-run. A rejection on 883.0 potentially bring iron ore back to correction phase. …