Iron Ore DCE Sep24 Daily Technical Review 09/04/24

Verdict- Neutral to Bullish.

DCE Sep24 contract rebounded as expected from the last report. A breakthrough on 819.0 potentially accelerates the growth. The intra-day high reached 817.5, which was only 1.5 yuan from the R1. Hourly MACD widened in bullish territory. Hourly slow stochastic KD reached bullish territory.

First support 800.0. First resistance 819.0.