Iron Ore DCE Sep24 Daily Technical Review 18/06/24

Verdict- Neutral.

DCE Sep24 rebounded during trading day however gave back some gains before closing. Hourly slow stochastic KD created dead cross. Hourly CCI dropped from bullish territory to neutral area. Hourly MACD narrowed in bullish territory. If iron ore stand on 797.0, then market potentially see reversal.

First support 797.0. First resistance 836.5.