Verdict – Short-term neutral.
DCE iron ore Jan contract created bigger volatility during the day compared to last week. Iron ore created new high however stayed less than 1 minute and pulled back. Iron ore potentially consolidate around 911.0-912.0 area. Hourly slow stochastic KD created dead cross on Nov 27th and Nov 30th. Technical signals are indicating the increase on iron ore potentially become slower.
The first support is 892.5. The first resistance is 919.0
