Verdict – Short-term neutral to bullish.
DCE iron ore September contract picked up during the last half-hour before closing. The high of day was slight lower than the import resistance level at 839.0. From hourly chart, MACD narrowed above 0 axis. Hourly CCI created lower highs from May 11th. Iron ore needs to breakthrough 839.0 to confirm the effectiveness of the rebound.
The first support is 780.0,the first resistance is 839.0
