Verdict – Short-term neutral to bullish, be aware of taking gains of market.
DCE iron ore broke 1048.5, which was the major resistance previously. A breakthrough on 1069.5 would potentially mean a new spike towards last year high at 1147.0. Hourly KD rebounded after a gold cross yesterday and approached overbought area. CCI was close to the high of Jan 4th.
The first support is 1048.5. The first resistance is 1069.5