Iron Ore DCE May23 Daily Technical Review 02/02/22

Verdict – Short-term neutral to bearish. DCE iron ore May23 contract maintained correction as expected in previous trading days. The overlapping of mid-run and short-run bearish cycle finally caused a big correction. Hourly MACD expanded in bearish territory. Hourly slow stochastic KD deepened correction. Hourly CCI maintained in bearish territory. Technical signals were indicating testing …