Verdict – Short-term neutral.
DCE iron ore Jan22 started to consolidate weakly after refreshed listed low during today. Major previous support become resistance at 531.0 level after breakdown. Hourly slow stochastic KD retreated to bearish territory. Hourly MACD deepened below 0 axis. Short-run signals were indicating a neutral sentiment in this market.
The first support is 500.0, the first resistance is 531.0
