Iron Ore DCE May24 Daily Technical Review 10/01/24

Verdict- Neutral to Bearish.

DCE May24 contract corrected as expected. Hourly MACD widened in bearish territory. Hourly CCI entered bearish territory. Iron ore broke important support at 969.0 with expand volume and loss on open interest. Iron ore potentially test low in next few sessions.

First support 915.0. First resistance 969.0.