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SHFE 1709 Aluminum Meets Strong Resistance (2017-8-1)
Aug 1, 2017 18:32Source:SMM
SHFE 1709 aluminum opened at RMB 14,455/mt on Tuesday.
SHANGHAI, Aug. 1 (SMM) – SHFE 1709 aluminum opened at RMB 14,455/mt on Tuesday. The contract fell to RMB 14,400/mt, but then rallied to RMB 14,505/mt. Later, SHFE 1709 aluminum fell back again on short selling, and finally ended at RMB 14,425/mt, with trading volumes down to 146,254 lots and positions down 15,914 lots to 222,484 lots. SHFE 1709 aluminum will test support at the 20-day moving average and meet resistance at RMB 14,500/mt.
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