Verdict- Neutral to bullish.
DCE Sep23 contract rebounded after refreshed periodic low at 698.5. The level 698.5- 700.0 area became an important support, as iron ore rebounded fast after touched the level. Hourly MACD created gold cross. Hourly slow stochastic rebounded after created a gold cross above oversold area. In short-run iron ore potentially recover the sell-off sentiment and test high in next few sessions.
First support 698.5. First resistance 721.0.
