Verdict – Short-term neutral.
DCE iron ore May23 contract rebounded during the day, as expected the iron ore maintained rangebound between 840- 860 during most of time in February. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI potentially enter bullish territory. Hourly MACD potentially create gold cross.
The first support is 840.0. The first resistance is 860.0
