Iron Ore DCE September Daily Technical Review 26/07/22

Verdict – Short-term neutral to bullish.

 

DCE iron ore September maintained strong as expected. Hourly MACD widened above 0 axis. Hourly CCI stayed in bullish territory. Iron ore hourly candles rebounded following a ladder shaped ascending structure. Short-run technical signals were indicating continuing rebound.

 

The first support is 703.5. The first resistance is 782.0.