Verdict- Neutral.
DCE Jan24 contract rebounded during the trading day. From hourly chart, slow stochastic created two higher gold crosses. CCI reached bullish territory. MACD created gold cross and widened in bullish territory. The support on 941.0 was significant, since iron ore saw reversal twice during the past three trading days. A breakthrough on the high of day at 975.0 would accelerate the trend. Otherwise iron ore maintain rangebound trading.
First support 941.0. First resistance 998.5.
