Iron Ore DCE January24 Daily Technical Review 19/10/23

Verdict- Neutral.

DCE Jan24 contract tested high and rejected by similar level at 875.0. Hourly MACD narrowed in bearish territory. Hourly CCI rejected by bullish territory. A breakthrough on 875.0- 881.5 would trigger an acceleration on the growth. Otherwise, iron ore potentially maintain consolidation in neutral sentiment.

First support 857.5. First resistance 881.5.