Verdict – Short-term neutral.
DCE iron ore September contract flattened during the day session after a big spike on Friday night session. Hourly slow stochastic KD was flattening near overbought area. Hourly CCI corrected from 6 month high to above 100 area. Candles were indicating volatility are decreasing. Technical signals were indicating an exhaustion on previous rebound.
The first support is 1075.0, the first resistance is 1166.0
