Iron Ore DCE January Daily Technical Review 14/10/22

Verdict – Short-term neutral.

DCE iron ore January contract rebounded although with a low open during night session. Hourly slow stochastic KD left bearish territory. Hourly MACD potentially create gold cross. The next resistance on 5-10-20 MACD crossed near the 715.0- 716.0 area. Short-run neutral.

The first support is 686.5. The first resistance is 715.0.