Verdict – Short-term bearish.
Maintain short-run bearish during this week. Iron ore created many long upper shadow candles, indicating majority of new buyers are intra-day traders, versus most sellers are holding longer period of time. The resistance level was the high of each trading day. From hourly chart, slow stochastic KD created cyclical low. MACD widened three times below 0 axis(after dead cross).
The first support is 816.0. The first resistance is 842.0.