Verdict – Short-term neutral.
DCE iron ore January recovered most of loss created in the first half hour of this morning during the last trading hour. In short-run, MACD narrowed below 0 axis. Hourly slow stochastic KD potentially create gold cross on oversold area. CCI approached neutral area from bearish territory. Short-run technical signals were indicating an oversold sentiment.
The first support is 680.5. The first resistance is 700.0.
