Verdict – Short-term neutral.
DCE iron ore May23 contract created three consecutive growth during the past trading days. Hourly MACD widened in bullish territory. Hourly CCI entered bullish territory. Iron ore was testing the strength of the pressure on 883.0- 889.0 level, an effective breakthrough would suggest an entrance to bullish again.
The first support is 861.5. The first resistance is 889.0
