Verdict – Short-term consolidate at high level.
Iron ore rebounded during the first half hour by Asian morning, along with significant volume and open interest built. DCE iron ore September contract created yearly-high, the high of previous year was 924.5 created in Jul 16th, 2019. Most of commodities rebounded during this morning. However be aware of volume and price change other than the first hour was rather light. From hourly chart, MACD is widening and moving up. Slow stochastic KD moved up above overbought area. DCE active started to roll from September to January, should take approximately finished in next two weeks.
The first support is 842.0. The first resistance is 924.5. 