Verdict – Short-term neutral.
DCE iron ore September started to give back gains created by last Friday night session. The next session iron ore is facing correction risk. Hourly MACD created gold cross. Hourly CCI created a periodic rebound from July 8th. Hourly slow stochastic KD created gold cross and accelerated on the rebound. Technical signals were neutral.
The first support is 1152.0, the first resistance is 1204.0
