SMM7 22 July news:
Shanghai tin main 1909 contract Friday night after the opening of 135030 yuan / ton, the initial rush to the night high 135750 yuan / ton was blocked, and then until the closing of night trading, Shanghai tin overall showed a downward trend of shock. After opening 134800 yuan / ton in early trading this morning, it quickly fell to an intraday low of 133580 yuan / ton at the beginning of the day and rose again after hitting a low of 133580 yuan / ton. It fell back again after hitting 135400 yuan / ton, and fell rapidly at the end of the day, closing at 134210 yuan / ton, down 740 yuan / ton, down 0.55 per cent. The turnover of 19696 hands increased by 2898 hands. The position was reduced by 28214 hands. Today, Shanghai tin closed with a negative line, with the physical part near the 5-10 EMA. It is estimated that the lower support of tin in Shanghai will be around 132000 yuan / ton, and the upper resistance will be around 137500 yuan / ton.
"after the collapse of Shanghai and tin, the metal rose sharply and plummeted, and after the collapse, we need to study the fundamentals calmly.
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