Verdict – Short-term neutral.
DCE iron ore May23 contract extended growth and refreshed listed high. Hourly slow stochastic KD entered overbought area. Hourly CCI fell from bullish territory to neutral area. Hourly MACD widened in bullish territory. Iron ore was in an accelerating growth mode. Be aware of the taking gains and high changing hands would potentially expand big volatility range.
The first support is 900.0. The first resistance is 950.0
