Verdict – Short-term neutral.
DCE iron ore May22 contract refreshed new high created from August 31st, 2021 and corrected fast. The next trading day iron ore still need to test 777.0- 781.0 resistance area. If a rejection potentially lead to a taking gains effect both below the resistance as well as pre-holiday risk. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI created to neutral area from a bullish territory.
The first support is 753.5, the first resistance is 781.0