Verdict – Short-term neutral.
DCE iron ore tested low over last night and recovered the loss during day session. Daily iron ore closed with a doji. Both high and lows are narrower than yesterday. The strong support is on 823.5 area, price reverse several times during this week. If iron ore breakthrough 845.0, it will potentially go back to the bull run.
The first support is 823.5. The first resistance is 845.0