[brief comment on nickel in the SMM phase] the pressure of 99000 yuan / ton above Shanghai nickel is closed at the Xiaoyang line all day.

SMM, 19 Feb: Shanghai Ni 1905 opened at 99240 yuan / ton today. At the beginning of the plate, the daily moving average under pressure above Shanghai Ni was weak, followed by a sudden increase in short positions, Shanghai nickel bottom exploration of 98600 yuan / ton, lack of confidence in short positions, closure of positions, and increase of long positions. Shanghai nickel touch up 99240 yuan / ton, wipe all the usual decline. In the afternoon, Shanghai nickel continued to bear pressure of 99000 yuan / ton customs fluctuated up and down, and the short position was reduced and warped up in the end of the day, closing at 99160 yuan / ton. For the whole day, 1905 of the main Shanghai nickel contract closed at the Xiaoyang line, up 1210 yuan, or 1.24 per cent, from the previous day's settlement price. Trading volume decreased by 81000 hands to 513000 hands, and position volume increased by 16000 hands to 313000 hands. The opening of the daily line technology KDJ converges, and the MACD red column becomes shorter. At night, the center of gravity of Shanghai nickel may fluctuate around the 99000 yuan / ton gate. Evening should pay attention to Cleveland Fed Chairman Mester on the economic outlook and monetary policy speech, the United States February NAHB housing market index.