Verdict – Short-term neutral.
DCE iron ore September rebounded during the day, recovering the bearish sentiment yesterday. However the volume of current two days were both smaller than Monday, indicated the 884.0 potentially become a periodic high with strong resistance level. Hourly MACD narrowed below 0 axis. Hourly CCI left bearish territory. Technical signals were indicating a potential to challenge 856.5 area in the next session.
The first support is 824.5,the first resistance is 856.5
