Iron Ore DCE January Daily Technical Review 15/09/22

Verdict – Short-term neutral.

 

DCE iron ore January contracted consolidated as expected yesterday. Iron ore tested high and low with wider range. 15 minutes slow stochastic KD created gold cross above oversold area. 15 minutes level MACD narrowed below 0 axis. 710.5-713.5 provided significant support in short-run from hourly chart.

 

The first support is 710.0. The first resistance is 736.5