Iron Ore DCE May Daily Technical Review 08/12/21

Verdict – Short-term neutral. DCE iron ore May22 contract finally closed 5 yuan slight lower than opening of the day. Daily high and low were 676.0 and 652.5 respectively, which also became the first resistance and support. Hourly CCI started to weaken and diverge with iron ore price since December 6th. Hourly slow stochastic KD …