Verdict – Short-term neutral to bullish, be aware of reversal on high area.
DCE iron ore rebounded with higher lows and highs, approaching historic high again. Hourly MACD was flat. Hourly slow stochastic KD is widening beyond overbought area. CCI created high from Dec 11th. Iron ore spike caused the open interest decreased 34% from the high of the year.
The first support is 997.0. The first resistance is 1042.0
