Verdict- Neutral.
DCE Sep23 contract corrected during the last hour. Although price level broke support at 715.5, sellers should be aware of a day trading action from closing to opening. Hourly MACD narrowed in bearish territory and potentially created a gold cross. However hourly CCI headed down to bearish area again. Technical signals were indicating an exhaustion and market was waiting for a reversal if regained support from 711.0 – 715.5 area.
First support 700.0. First resistance 736.0.
