Iron Ore DCE January24 Daily Technical Review 06/09/23

Verdict- Neutral. DCE Jan24 contract consolidated during the day as expected. The price level expected to maintain neutral unless breaking through the range 836.5- 865.5. Hourly MACD weakened in bearish territory. Hourly slow stochastic KD maintained at neutral level. Hourly CCI approached the boundary of oversold area. First support 836.5. First resistance 865.5.