[brief Review of Nickel in SMM period] Shanghai Nickel stop falling and close Yang 60-day moving average level fluctuation

SMM, 18 October:

The Shanghai Nickel 1912 contract opened today at 128900 yuan / tonne. Before noon, the Shanghai nickel center of gravity revolved around 129000 yuan / tonne for a narrow range of oscillations. In the afternoon, Shanghai nickel down 128150 yuan / ton, short positions reduced, Shanghai nickel rose, breaking through 130000 yuan / ton line, touch higher 130700 yuan / ton, then, part of the increase, closed at 129300 yuan / ton, compared with the settlement price of the previous trading day fell 800 yuan / ton, down 0.61%, position reduced by 9000 hands to 362000 hands, trading volume reduced by 580000 hands to 1.248 million hands. Shanghai nickel closed in the small yang line, the bottom of the 60-day moving average support, night continued to pay attention to the 60-day moving average of 128500 yuan / ton of first-line support for Shanghai nickel.

Tonight, focus on the monthly rate of leading indicators for the Conference Board in September; event focus on the speech by Federal Reserve Vice Chairman Clarida (Richard Clarida) on economic and monetary policy in Boston.

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