Iron Ore DCE Sep Daily Technical Review 23/6/21

Verdict – Short-term neutral. DCE iron ore September contract rebounded and corrected after reaching the previous neckline area around 1176.0- 1181.5. A breakthrough on this level would potentially lead a next movement to test last high at 1253.5. A rejection on this level potentially drive iron ore back to consolidation. From hourly chart MACD expanded. …