Verdict – Short-term neutral.
DCE iron ore September contract terminated the consecutive eight corrective trading days and closed with the first white candle today. The price movement potentially keep in the higher and lower of the day in the next few trading days if volume start to decrease. The long position would need to break 790.0, which was the upper boundary of a gap to confirm the effectiveness of the rebound. Otherwise iron ore potentially exhaust in narrower range.
The first support is 728.5,the first resistance is 779.0
