Iron Ore DCE May23 Daily Technical Review 07/03/22

Verdict – Short-term neutral DCE iron ore May23 contract increased significantly during the day. Hourly slow stochastic KD approahed overbought area after gold cross. Hourly MACD created gold cross. Iron ore need to breakthrough 918.5- 923.5 area, to return to bullish-run. The level 918.5 used to be an upper bound of a gap, while 923.5 …