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Iron Ore DCE May23 Daily Technical Review 13/12/22

Verdict – Short-term neutral. DCE iron ore May23 contract tested low at 789.0, recovered loss and returned to neutral rangebound. The next resistance 823.0 used to be a roof area to reverse iron ore bullish market last time. Hourly slow stochastic KD created gold cross above 0 axis. Hourly MACD narrowed in bearish territory. The …

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Iron Ore DCE May23 Daily Technical Review 12/12/22

Verdict – Short-term neutral to bearish. DCE iron ore May23 contract retreated back to slight bearish trend after rejected by 823.5 and 808.5 respectively. If a breakdown on 800.0, iron ore potentially accelerate the intraday correction in next few sessions. Hourly MACD widened below bearish territory. Hourly slow stochastic KD reached oversold area after created …

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