Iron Ore DCE May23 Daily Technical Review 12/12/22

Verdict – Short-term neutral to bearish. DCE iron ore May23 contract retreated back to slight bearish trend after rejected by 823.5 and 808.5 respectively. If a breakdown on 800.0, iron ore potentially accelerate the intraday correction in next few sessions. Hourly MACD widened below bearish territory. Hourly slow stochastic KD reached oversold area after created …