Iron Ore DCE May23 Daily Technical Review 04/01/22

Verdict – Short-term neutral. DCE iron ore May23 contract entered a short-run correction tunnel observed from hourly chart. As expected from last report, iron ore tested the import support of 40-hour moving average. A breakdown on this support level periodically indicated a mid-run level correction start. Hourly MACD widened below 0 axis. Hourly slow stochastic …

Iron Ore DCE May23 Daily Technical Review 03/01/22

Verdict – Short-term neutral. DCE iron ore May23 contract corrected as expected. Hourly slow stochastic KD created a dead cross below overbought area. Iron ore maintained above 40-hour moving average after November 25th. Thus, it take sometime to evaluate a real correction at this level. Moreover, the intraday low used to be strong support last …