Verdict- Neutral.
DCE iron ore corrected during the day. Iron ore was traded in 747.5- 767.5 range during past four trading days. Hourly MACD widened in bearish territory. Hourly CCI moved from neutral area to bearish territory. A breakthrough on either upper side of lower side of the rangebox would initiate a directional movement. Otherwise iron ore maintain neutral.
First support 747.5. First resistance 788.5.
