Verdict – Short-term neutral to bullish.
DCE iron ore January contract opened low and closed high, the loss was majorly recovered during afternoon session. The contract resisted by 747.5, a second high periodically. The lower supported by 714.0. Hourly slow stochastic KD created gold cross above oversold area. Short-run technicals indicated a continious rebound potentially.
The first support is 714.0. The first resistance is 747.5
