Iron Ore DCE May Daily Technical Review 26/1/22

Verdict – Short-term neutral. DCE iron ore May22 contract tested high several times however rejected by previous high at 777.0. A breakthrough and closing above 777.0 would indicate a continuous growth in mid-run. Otherwise buyers should be aware of the cross Chinese Lunar New Year holding risk. Hourly CCI re-entered the bullish territory. Hourly MACD …