Iron Ore DCE May Daily Technical Review 13/12/21

Verdict – Short-term neutral to bullish. DCE iron ore May22 contract created the biggest single day increase over the past four trading days however rejected by major resistance at 676.0 area. Iron ore market potentially test high and break 676.0, price movement expected to accelerate after the breakthrough. Hourly slow stochastic KD approached overbought area. …