[SMM Nickel Morning News] Shanghai Nickel Nick

SMM, 25 Oct:

Lunni Asia opened at $16605 a tonne today. After the opening, Lunni rose all the way up to $16800 / tonne under pressure and fell back slightly, with a narrow range of fluctuations around the $16760 / tonne line. Entering the European session, at about 17: 30, Lunni rose again, touching a high of $16970 / ton, then reversed and fell back under pressure, giving up some of the increase, down to a small shock around the daily average of $16800 / ton, and finally closed at $16860 / tonne, up $2335 / tonne, or 1.41 per cent, from the previous day's settlement price. Trading volume 5849 hands, position 281000 hands. Lunni closed at the small positive line, the K column pierced the 5 / 60 day moving average, and finally closed above the 60 day moving average. Today, we pay attention to the concussion of the 60 day moving average of US $16700 / ton.

Overnight, Shanghai nickel opened at 133800 yuan / ton, at night, Shanghai nickel overall pressure daily average line 133500 yuan / ton narrow shock operation, and finally closed at 133470 yuan / ton, compared with the settlement price of the previous trading day up 390 yuan / ton, an increase of 0.29%, trading volume of 5.05 million hands, position volume of 322000 hands. Overnight, Shanghai nickel closed in the Yin Cross, jumped above the 10-day moving average, and away from the 5 / 60 day moving average, the shadow line pierced the 20-day moving average. Today, we pay attention to the resistance of 135000 yuan / ton above Shanghai nickel, and pay attention to whether Shanghai nickel can stand on the front line of 134000 yuan / ton 20-day moving average.

Tonight, focus on the final consumer confidence index of the University of Michigan in October.

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