[SMM Nickel Morning News] Lunni downlink received 10-day EMA support overnight Shanghai nickel small shock operation

SMM, Oct. 09:

Lunni Asia opened at $17690 a tonne today. At the beginning of the day, Lunni fell all the way down to $17170 / tonne to support a rebound and repair, to a daily average near the pressure shock. In the afternoon, Lunni fell again to $17170 / tonne, and entered the European period, Lunni straight line pulled up to $17550 / tonne, then, under the pressure of the 5-day moving average, supported by the daily moving average of 17400 yuan / tonne, the range concussion operation, closed at $17450 / tonne, down $260 / tonne, down 1.47% from the settlement price of the previous trading day, trading volume 9115 hands, position increased 4000 hands to 271000 hands. Lunni closed in the shaded column of the lower shadow line, the shadow line pierced the intersection of the 10 / 20 EMA, and the K column fell below the 5-day EMA support but stood above the intersection as a whole. Today, we pay attention to whether Lunni can stand firm on the 10-day moving average and hold the $17500 / ton pass.

Overnight Shanghai nickel 1912 contract opened at 137290 yuan / ton, at the beginning of the session, under pressure daily average narrow shock, then, slightly explore 137000 yuan / ton pass, but under the pressure 5 / 10 moving average, shock fall back, below 136600 yuan / ton first-line support, range small fluctuations, finally closed at 136730 yuan / ton, compared with the settlement price of the previous trading day fell 270 yuan / ton, down 0.2%, trading volume 165000 hands, position increased 6000 hands to 298000 hands. Overnight Shanghai nickel closed in the small negative line, 5 / 10 moving average intersection is facing strong pressure, the center of gravity as a whole in the vicinity of 137000 yuan / ton narrow vibration, today pay attention to whether Shanghai nickel can stand steady 5-day moving average.

Today's data focus on China's annual M2 money supply rate in September and the size of social financing in September; US EIA crude oil stocks (10,000 barrels) for the week ended October 4. The event focused on the release of a summary of financial policy by the Bank of England and the minutes of the meeting of the Bank of England's Financial Policy Committee; Federal Reserve Chairman Powell (Jerome Powell) co-chaired a "Fed listening" round table with local business and community leaders in Kansas to discuss job market conditions, local banking, community development challenges and other topics.

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