Verdict- Neutral to bullish.
DCE Sep23 contract recovered loss from last Thursday and Friday. From hourly chart, iron ore MACD expanded in bullish territory. CCI entered bullish territory. Slow stochastic entered ascending tunnel. The daily candle saw an improving trading volume and interest. In short-run, iron ore expected to test high in the next few sessions. A breakthrough at 733.0 potentially reverse iron ore to rebound phase in mid-run.
First support 699.5. First resistance 733.0.
