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Iron Ore DCE January Daily Technical Review 02/09/22

Verdict – Short-term neutral.   DCE iron ore January contract closed with slight higher than last closing with expand trading volume. The market was overwhelmed with bearish sentiment before late afternoon, supported by the taking gains effect from previous sellers. However a recover to consolidation needs to see a breakthrough on 675.0 level.   The …

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Iron Ore DCE January Daily Technical Review 01/09/22

Verdict – Short-term neutral.   DCE iron ore January contract corrected signficantly, however luckily supported by 672.0 level. A breakdown on 672.0 level would indicate an entrance to bearish phase. Otherwise iron ore potentially maintain rangebounds from 672.0 – 700.0. Hourly CCI created the lowest since July 17th. Hourly MACD maintained in bearish territory since …

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