Iron Ore DCE January Daily Technical Review 22/08/22

Verdict – Short-term neutral.   DCE iron ore January rebounded, however resisted by important neckline area at 700.0. Hourly MACD flattened above 0 axis. Hourly CCI decreased to bearish territory. Technical signals were indicating the price movement entered a consolidation period. However a breakthrough on 700.0 level would lead iron ore back to strong rebound …

Iron Ore DCE January Daily Technical Review 19/08/22

Verdict – Short-term neutral to bearish.   DCE iron ore January corrected as expected from previous reports. The daily high moved lower from 697.0-700.0 level to 691.0 area. Intra-day support fell on 672.0-673.0 level. However it was difficult to see strong support above 650.0 level. MACD stayed in bearish territory during most of hours since …