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Verdict – Short-term neutral.   DCE iron ore January contract saw periodic top pattern. Iron ore saw a long-run resistance line connecting 755.0, 745.5 and 735.0. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross above overbought area. Iron ore in mid-run still maintained in an ascending tunnel.   The first …

Continue reading “Iron Ore DCE January Daily Technical Review 14/11/22”

Verdict – Short-term neutral to bullish. DCE iron ore January contract saw a big spike with 40% bigger volume and significant new built new long positions in the market. Hourly MACD entered bullish territory. Hourly slow stochastic KD potentially create dead cross below overbought area. Short-run iron ore potentially extend the rebound in an ascending …

Continue reading “Iron Ore DCE January Daily Technical Review 11/11/22”