Verdict – Short-term neutral.
DCE iron ore September contract fell into the correction tunnel during the day. Hourly candles indicated that iron ore has created three lower highs and two lower lows from April 19th. If breaking through major support from 783.0- 800.0 area, iron ore potentially testing periodic low. Otherwise, iron ore would return to a consolidation range.
The first support is 783.0,the first resistance is 831.0
