Iron Ore DCE January Daily Technical Review 06/09/22

Verdict – Short-term neutral.   DCE iron ore January contract was rejected by important resistance at 700.0 for the second day. Thus iron ore potentially remain in the rangebound from 685.0- 700.0. Hourly MACD narrowed above 0 axis. Hourly CCI fell from overbought area to neutral area. Short-run technical signals were indicating an exhaustion on …