Iron Ore DCE May Daily Technical Review 28/2/22

Verdict – Short-term neutral. DCE iron ore May22 rebounded during the day however still resisted by major resistance around 718.5 area. Iron ore was rejected by this level several times from February 21st. If a breakdown on 655.0 area would bring market back to bearish. Technical was indicating a neutral sentiment. The first support is …

Iron Ore DCE May Daily Technical Review 25/2/22

Verdict – Short-term bearish. DCE iron ore May22 created a big correction during the day. As expected in the last report, iron ore was only weak rebound and re-entered the bearish tunnel. However the long lower shadow line on the daily candle indicated an exhaustion with an increasing volume. Hourly slow stochastic KD created gold …