[brief comment on nickel in SMM] Shanghai nickel shock falls below the 110000 yuan / ton mark

SMM, July 29 / PRNewswire-Asianet /-

Shanghai nickel 1910 opened today at 110880 yuan / ton, at the beginning of the plate, the pressure-bearing 5-day moving average concussion downward, to 110000 yuan / ton gate to get support, the center of gravity around 110200 yuan / ton first-line concussion finishing. In the afternoon, short positions increased, Shanghai nickel fell sharply, falling below the 110000 yuan / ton mark, down 108920 yuan / ton, followed by Shanghai nickel shock revised up to close at 109450 yuan / ton, down 1090 yuan / ton, down 0. 99% from the previous day's settlement price, position volume increased 6022 hands to 342000 hands, trading volume decreased 256000 hands to 1.065 million hands. Throughout the day, the Shanghai Ni 1910 contract closed at the Xiaoyin line, bearing pressure on the 5-day moving average above, focusing on whether Shanghai Ni can hold the 108000 yuan / ton barrier in the evening.

Focus on the Dallas Fed Business activity Index for July.

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