Iron Ore DCE January24 Daily Technical Review 04/09/23

Verdict- Neutral.

DCE Jan24 contract tested high and corrected quickly in the afternoon, finally supported by 836.5 area. Hourly CCI corrected from 4-week high. Hourly slow stochastic KD created two consecutive lower dead crosses. Hourly MACD created dead cross. Iron ore potentially regain support if standing on 836.5 for several sessions.

First support 836.5. First resistance 865.5.