Iron Ore DCE May24 Daily Technical Review 29/02/24

Verdict- Neutral.

DCE May24 contract moved in the range box from 876.0- 900.0 as expected from last trading day. The daily technical signals provided support, as gold cross on slow stochastic KD and narrowed MACD in bearish territory. The intraday signals saw a fast ascending CCI to approach bullish territory. On the other side, iron ore is resisted by strong pressure by 900.0. In general, iron ore expected to maintain neutral.

First support 880.0. First resistance 928.0.