Verdict – Short-term neutral.
DCE iron ore slightly corrected during the day. From hourly chart, CCI created bearish divergence with candles during last night. Slow stochastic KD created dead cross on overbought area at the same time. MACD potential create dead cross in next few hours. If a breakdown on 850.0, the next target is 827.0- 828.0. The return to bullish market needs a confirm to breakthrough 864.0 and 873.0 consecutively.
The first support is 851.5. The first resistance is 873.0.
