Iron Ore DCE September23 Daily Technical Review 31/05/23

Verdict- Neutral to bullish.

DCE Sep23 contract rebounded as expected yesterday. Hourly MACD created gold cross. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI rebound fast and approached mid-area. Short-run technical signals were indicating a sustainability on the current trend.

First support 700.0. First resistance 733.0.