Iron Ore DCE September23 Daily Technical Review 16/05/22

Verdict- Neutral to bullish. DCE Sep23 contract tested high, however rejected around major resistance at 733.5. An effective rebound needs to breakthrough 733.0- 733.5 area, otherwise iron ore would potentially stay in the range box from 699.5 – 733.5. Hourly CCI retreated from bullish territory to neutral territory. Hourly slow stochastic KD created dead cross …

Iron Ore DCE September23 Daily Technical Review 15/05/22

Verdict- Neutral to bullish. DCE Sep23 contract recovered loss from last Thursday and Friday. From hourly chart, iron ore MACD expanded in bullish territory. CCI entered bullish territory. Slow stochastic entered ascending tunnel. The daily candle saw an improving trading volume and interest. In short-run, iron ore expected to test high in the next few …