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Iron Ore DCE May Daily Technical Review 30/12/21

Verdict – Short-term neutral. DCE iron ore May22 contract tested high during Asian morning session and however gave back major gains during the afternoon session. The daily trading volume today and yesterday created the lowest from the previous eight trading days. The candles also indicated current market has no trend in short-run. Hourly MACD weakened …

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Iron Ore Offshore Jan 22 Morning Technical Comment – 240 Min Chart 30/12/21

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Iron Ore DCE May Daily Technical Review 29/12/21

Verdict – Short-term neutral to bearish. DCE iron ore May22 contract corrected significantly during the day and recovered major loss during the last half hour. The previous support 673.0 became a major resistance, which used to be a neckline of a multiple tops area – a traditional bearish top reversal pattern in long-run. However an …

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