Verdict – Short-term neutral.
DCE iron ore May22 contract corrected slightly during the day. Hourly slow stochastic KD created the second dead cross near overbought area after the first one created this morning. Hourly CCI created bearish divergence and breakdown 100 during the first hourly of this morning. Short-run technical signals are indicating an exhaustion of the rebound.
The first support is 813.0,the first resistance is 834.5