Verdict – Short-term neutral to bullish.
DCE iron ore January contract rebounded as expected. For many times, iron ore spiked during the last hour, approaching the half-year high at 757.5. Iron ore returned to the ascending trend. Hourly MACD expanded above 0 axis. Hourly slow stochastic KD approached overbought area. Hourly CCI created the highest since July 2nd. Iron ore indicated a short-run bullish sentiment.
The first support is 743.5. The first resistance is 800.0
