Verdict – Short-term neutral.
DCE iron ore tested low at 685.5 for three times and then rebound through Asian hours. However, from daily chart iron ore is walking on a correction tunnel. From hourly chart, CCI has rebounded. Slow stochastic KD created gold cross in Asian morning. Short-term potentially test high.
The first support is 685.5. The first resistance is 708.5. (by Hao Pei)
