Iron Ore DCE January Daily Technical Review 30/11/22

Verdict – Short-term neutral.

DCE iron ore January contract tested low and recovered loss fast. Hourly MACD entered bearish territory. Hourly slow stochastic KD deepened correction. Short-run technical signals were indicating an exhaustion. Trading volume narrowed significantly. Market was in a watch-and-see mode.

The first support is 758.5. The first resistance is 800.0