[brief comment on SMM copper] whether the MACD index enters the downward track at night and whether the Shanghai copper test can hold the 48900 position-Shanghai Metals Market

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[brief comment on SMM copper] whether the MACD index enters the downward track at night and whether the Shanghai copper test can hold the 48900 position

Translation 04:53:39PM Apr 24, 2019 Source:SMM

SMM, April 24 / PRNewswire-Asianet /-

This morning, the main Shanghai copper 1906 contract opened at 49070 yuan / ton, after the opening of short-term detection of 49120 yuan / ton, followed by the outside market fell, slowly oscillated down, copper prices fell to the daily average before noon, down 48930 yuan / ton. In the afternoon, copper prices rose at a low level, but failed to break through 49080 yuan per tonne. After repeated explorations below this position, short positions continued to increase, and copper prices weakened, closing down 48960 yuan per ton, down 190 yuan per ton, down 0.39 percent. 1906 contract volume increased by 30268 to 149000, with the Shanghai Copper Index trading volume reaching 295000 today. 1906 contract positions increased by 2986 to 190000, 1905 contracts reduced positions by 17318 to 120000, and the Shanghai Copper Index decreased by 2902 to 515000. Today, the price spread between 1905 and 1909 contracts has not been significantly opened. Today, Shanghai copper as the non-ferrous plate capital outflow of the largest metal, capital outflow of 85.96 million. Today, Shanghai Copper main negative entity has completely lost all recent EMA support, and has lost contact with Brin middle rail, MACD indicators are currently entering the downward track. In the evening, waiting for the guidance of the outside market, test whether the main force of Shanghai copper can hold the position of 48900 yuan / ton.

(SMM Kwong Tze-sie)

Key Words:  Copper  SMM  copper  copper. 

[brief comment on SMM copper] whether the MACD index enters the downward track at night and whether the Shanghai copper test can hold the 48900 position

Translation 04:53:39PM Apr 24, 2019 Source:SMM

SMM, April 24 / PRNewswire-Asianet /-

This morning, the main Shanghai copper 1906 contract opened at 49070 yuan / ton, after the opening of short-term detection of 49120 yuan / ton, followed by the outside market fell, slowly oscillated down, copper prices fell to the daily average before noon, down 48930 yuan / ton. In the afternoon, copper prices rose at a low level, but failed to break through 49080 yuan per tonne. After repeated explorations below this position, short positions continued to increase, and copper prices weakened, closing down 48960 yuan per ton, down 190 yuan per ton, down 0.39 percent. 1906 contract volume increased by 30268 to 149000, with the Shanghai Copper Index trading volume reaching 295000 today. 1906 contract positions increased by 2986 to 190000, 1905 contracts reduced positions by 17318 to 120000, and the Shanghai Copper Index decreased by 2902 to 515000. Today, the price spread between 1905 and 1909 contracts has not been significantly opened. Today, Shanghai copper as the non-ferrous plate capital outflow of the largest metal, capital outflow of 85.96 million. Today, Shanghai Copper main negative entity has completely lost all recent EMA support, and has lost contact with Brin middle rail, MACD indicators are currently entering the downward track. In the evening, waiting for the guidance of the outside market, test whether the main force of Shanghai copper can hold the position of 48900 yuan / ton.

(SMM Kwong Tze-sie)

Key Words:  Copper  SMM  copper  copper.