Verdict – Short-term neutral to bullish.
DCE iron ore Sep22 contract opened low yesterday and created big rebound all through the day. Sep22 contract had refreshed new high since listed. Hourly MACD created gold cross. Hourly CCI was stable beyond bullish territory. Hourly slow stochastic KD approached overbought area after creating gold cross this morning. Technical signals indicating a potential to refresh new high in coming sessions. However be aware of the decreasing trading volume and changing hands.
The first support is 882.0,the first resistance is 898.0