Iron Ore DCE May23 Daily Technical Review 20/03/22

Verdict- Bearish in Short-run.

DCE May23 contract entered a correction phase. The contract broke 900.0 and tested the second support level at 883.0. Hourly CCI entered bearish territory. Hourly MACD maintained in bearish territory after March 14th. Short-run signals were indicating the correction in continuance.

First support 860.0. First resistance 900.0.