FIS Technical – DCE Iron Ore Sep 20

FIS Technical –  DCE Iron Ore Sep 20

Last week we highlight the futures were not a technical sell due to the divergence, plus price was finding support on  the 200 period weekly MA. We also highlighted that above USD CNY 582 the technical could get interesting as it would trigger an inverse head and shoulders pattern on the weekly technical. Support levels held resulting in price triggering a buy signal on the CNY 582 breakout with the DCE moving CNY 27.5 higher. To view the full report please click on the link