DCE Iron Ore May 17 futures – Daily

DCE Iron Ore May 17 futures – Daily

Verdict – Resistance levels continue to hold in the DCE May futures contract at CNY 720, as we continue with sideways movement.

Technically we remain in bullish territory having recently made a higher low; however there is some evidence of potential short term weakness in the market, in the form of a bearish divergence. Although not a sell signal it does highlight the failure to break above the current resistance levels.

iron ore 20-2-17

To View the full report please click on the link