Iron Ore DCE May24 Daily Technical Review 05/02/24

Verdict- Neutral to Bearish.

DCE May24 contract potentially see a periodic bottom area. Hourly slow stochastic KD created gold cross in oversold area. Hourly MACD created gold cross. However the intraday resisted by 958.5. Market participants maintain watch and see mode before long holiday with narrowing volume.

First support 933.5. First resistance 958.5.