Iron Ore DCE May24 Daily Technical Review 04/01/24

Verdict- Be Aware of Market Reversal.

DCE May24 contract corrected after saw the high created last morning. From hourly chart, MACD created dead cross. Slow stochastic KD corrected after the dead cross in overbought area. The current technical signals were indicating an exhaustion at absolute high level, be aware of taking gains or sharp reversal.

First support 950.0. First resistance 1050.0.