Verdict – Short-term neutral to bullish.
DCE iron ore January contract recovered most of losses created in early morning before closing. The daily candle ended with a doji. The short-run uptick motive slowed down. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross in overbought area. However iron ore maintain resilient in an ascending tunnel.
The first support is 654.0. The first resistance is 675.5
