Verdict – Short-term neutral.
DCE iron ore May23 contract retreated from high during the day, as expected failed to extend gains. Mid-run MACD(daily chart) indciated a 35-trading-day in bearish territory, which created a bearish divergence with previous upticking price. Hourly slow stochastic KD created dead cross in February 10th and maintained weak.
The first support is 828.5. The first resistance is 850.0
