Verdict – Short-term neutral.
DCE iron ore September rebounded significantly during the day, however with flat volume. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross and corrected to neutral area. Hourly CCI entered neutral area. Short-run technical signals were indicating exhaustion. The return to bullish need to confirm an effective breakthrough among 881.5- 887.0 area, which used to reverse price for three times.
The first support is 863.0,the first resistance is 887.5
