Verdict – Short-term neutral.
DCE iron ore rebounded and resisted by major resistance at 1060. Be aware of cross day short-run trades, which happen few times from late December. A breakthrough on 1079.0 would bring iron ore back to bullish territory. Hourly MACD created gold cross and widened. Slow stochastic KD also created gold cross in neutral area. CCI created new high since Jan 8th.
The first support is 1022.0. The first resistance is 1079.0
