Iron Ore DCE January24 Daily Technical Review 27/09/23

Verdict- Neutral. DCE Jan24 contract rebounded slightly during the day as the looming China holiday. The trading volume narrowed for two consecutive trading days. Hourly MACD created gold cross. Hourly slow stochastic KD created a gold cross in oversold area and rebounded fast. Hourly CCI entered bullish territory. The high was rejected by 851.0 -851.5 …

Iron Ore DCE January24 Daily Technical Review 26/09/23

Verdict- Neutral to Bearish. DCE Jan24 contract corrected as expected, however the market technical was indicating an exhaustion. Hourly slow stochastic KD created a gold cross in oversold area. Hourly MACD narrowed in bearish territory. If price level holds up 835.0, iron ore potentially win some consolidation time instead of heading south immediately. First support …