Verdict- Neutral to Bearish.
DCE Sep23 contract created the biggest single day correction in June by 1.81%, along with a massive 80,000 lots of decrease on open interests. The trading volume increased for consecutive three days, indicating a confliction a periodic high level. Hourly slow stochastic KD deepened correction after creating dead cross in overbought area. Hourly MACD corrected in bearish territory. Iron ore potential to test low in next session.
First support 762.5. First resistance 812.5.
