Verdict- Bullish.
DCE Sep23 contract maintained in bullish run as expected. Hourly MACD maintained flat in 2-3 days. Hourly CCI consolidated along the bullish boundary. Technical signals were indicating an exhaustion and slow down on the current price trend. However, iron ore is expected to maintain rebound along the bullish trend till a clear reversal structure created.
First support 781.0. First resistance 800.0.
