[brief Review of SMM Nickel] near the weekend, funds for risk aversion, Shanghai Nickel fell back near the 10-day moving average.

SMM, July 10:

The main contract of Shanghai Nickel 2010 opened at 105650 yuan / ton today. After the opening, the short positions were tested out, and the pressure on Shanghai Nickel fell to around 105400 yuan / ton and gradually returned steadily. At about 11:00, the short-term confidence was not enough to reduce the position and leave the market, and Shanghai Nickel gradually strengthened, reaching near the daily average line of 106500 yuan / ton. In the afternoon, the Shanghai Nickel jump opened as low as 105940 yuan / ton, but due to the approaching weekend, the long and empty also had no intention of falling in love with the war, and slowly left the market in a flat position, causing Shanghai Nickel to shake down and finally closed at 105450 yuan / ton, down 1810 yuan / ton, or 1.69%. The trading volume was 912928 lots, and the position decreased by 10750 lots to 134331 lots. After continuous high-level shocks in Shanghai this week, due to the risk aversion and departure of funds near the weekend, Shanghai Nickel vomited a rise in the week, recording a mid-negative column. At present, the main long positions are still present, continue to pay attention to the changes in positions at night, and it is expected that after returning to the market next week, after Shanghai Nickel is consolidated at the first line of 105000 yuan / ton, it will still launch an upward breakthrough with the pressure of 108000 yuan / ton as the target.

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