Verdict – Short-term neutral to bullish.
DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore created a gap as a strong support after a high open cross Labor Day Holiday. Hourly slow stochastic KD created gold cross near oversold area. Hourly CCI created two-weeks-high fast from a monthly low during the trading day. Hourly MACD created gold cross in Asian morning. Technical signals were indicating a slow down on the current push however mid-run maintain bullish.
The first support is 1121.0, the first resistance is 1251.0