Iron Ore DCE September23 Daily Technical Review 08/05/22

Verdict- Bullish. DCE Sep23 contract accelerated after recovered important resistance at 698.5- 700.0 area. A further breakthrough on next resistance at 723.0 level would confirm a reverse of a market bottom area in mid-run. Hourly CCI entered bullish territory. Hourly slow stochastic KD entered overbought area. Short-run indicators were suggesting a rebound in continuation. First …

Iron Ore DCE September23 Daily Technical Review 05/05/22

Verdict- Neutral. DCE Sep23 contract tested low and recovered loss by the last two hours. In mid-run, a loss on 700.0 area meant a bearish trend in continuance. In short-run, a recover above 700.0 would mean a potential rebound. Hourly slow stochastic KD created gold cross below oversold area. Hourly MACD narrowed in bearish territory. …