Iron Ore DCE January Daily Technical Review 09/08/22

Verdict – Short-term neutral.   DCE iron ore January contract successfully broke through 745.0 level however corrected fast and gave back half gains created by yesterday. Market saw divergence views in near periodic high with expanding volume. Hourly slow stochastic KD created gold cross in overbought area. Hourly MACD created dead cross. Iron ore needs …

Iron Ore DCE January Daily Technical Review 08/08/22

Verdict – Short-term neutral.   DCE iron ore January contract rebounded significantly during Friday night session, however stay flat during most time of Monday. The previous high at 745.0- 745.5 level provided effective resistance. Thus iron ore needs to breakthrough 745.0 with expanding volume to return to the fast rebound tunnel. Hourly slow stochastic potentially …