Verdict – Short-term neutral to bearish.
DCE iron ore rebounded slightly, the intraday low at 925.0 gathered some trading volume to push iron ore price back to 940-950 level in the afternoon session. Hourly MACD potentially create gold cross. Hourly CCI rebounded for previous six hours and created intraday high. Hourly slow stochastic KD created gold cross in the first hour of this morning session. However mid-run iron ore was still walking in a bearish tunnel.
The first support is 925.0, the first resistance is 954.0
