Iron Ore DCE May24 Daily Technical Review 24/01/24

Verdict- Neutral. DCE May24 contract rebounded following Asian equity warming. In hourly chart, CCI returned to bullish territory. Hourly MACD narrowed in bullish territory. Hourly slow stochastic KD entered overbought area. The open interest of May 24 contract was almost unchanged from late December, suggesting that the market was lack of long-term investment. Thus, a …