Iron Ore DCE Sep24 Daily Technical Review 14/05/24

Verdict- Neutral.

DCE Sep24 gave back all gains created yesterday. Iron ore still consolidate in the range from 855.0- 891.0 from April 24th. Hourly MACD created dead cross, however seeing flatter movement. Hourly slow stochastic KD corrected after a dead cross. Hourly CCI was approaching oversold boundary. Maintain neutral unless an effective breakdown on 855.0.

First support 855.0. First resistance 902.0.