Verdict – Short-term neutral to bearish.
DCE iron ore September rolled to January during this week. The big correction with greater volume during a rolling period indicated major investors were slight bearish in the after market of iron ore. Hourly chart candles entered stable over the afternoon session. A hold up on 873.0 level would potentially mean a stable in short-run. CCI potentially rebound entering neutral area from an oversold area. Slow stochastic KD potentially flattened.
The first support is 846.5, the first resistance is 912.0
