[SMM Nickel Morning News] Lunni still showed an upward trend on Friday. Today, we pay attention to the operation of Lunni at the intersection of the 5 / 40 moving average and the 60-day moving average range.

SMM, 20 April:

Lunni opened at $11810 a tonne on Friday. At the beginning of the day, Shanghai nickel broke through resistance to $11900 a tonne after a short-term pressure shock at $11840 per tonne on the 5th moving average, followed by a narrow concussion around the position. In the afternoon, Lunni continued the upward trend, breaking through the 40-day moving average pressure of US $12050 / ton, followed by a pressure drop, the overall 40-day moving average fluctuated within the range of 12000 US dollars / ton, and the 40-day moving average changed from pressure to support. Nickel rose to a full-day high of $12070 / tonne and closed at $12070 / tonne, up $310 / tonne, or 2.64 per cent, from the previous day's settlement price. Trading volume increased by 2074 hands to 5118 hands and positions increased by 637 hands to 218377 hands. Lunni closed on Friday at a small balcony, K waist through the 40-day moving average, the top faces the 60-day moving average resistance, the lower 5 / 40 moving average will form a technical cross at $11910 / ton, the lower support is strong, Lunni opened at $12055 / tonne today, follow up on the operation of Lunni at the intersection of the 5 / 40 moving average and the $12250 / tonne range of the 60-day moving average.

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