Iron Ore DCE May24 Daily Technical Review 15/01/24

Verdict- Neutral to Bearish.

DCE May24 contract corrected as expected. Iron ore saw increasing aggregated volume however a 13.7% open interest loss from January 13th , when iron ore May24 reached listed high. Hourly CCI reached bearish territory. Hourly MACD walked in bearish territory. Iron ore potentially test low in next few sessions.

First support 890.0. First resistance 950.0.