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Iron Ore DCE May23 Daily Technical Review 27/02/22

Verdict – Short-term neutral bearish. DCE iron ore May23 contract broke important support at 900.0. Hourly MACD widened in bearish area. Hourly slow stochastic KD reached oversold area after created several dead cross. Hourly CCI located in bearish territory. Hourly candles created a significant reversal pattern, which indicated the contract potential testing low in next …

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Iron Ore DCE May23 Daily Technical Review 24/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract tested low however backed by major support above 900.0. Hourly MACD maintained in bearish territory. Houlry CCI returned from bearish territory to neutral area. A breakdown on 900.0 by closing in future trading days would indicate a mid-run reversal. Otherwise iron ore would potentially maintain watch-and-see …

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