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[brief comment on Zinc in SMM period] the suppression intensity of 20-day EMA is mainly observed at night by multi-head warehouse reduction in the day.
Jun 3,2019 16:54CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM6, March 3, news:

The main 1907 contract of Shanghai zinc was opened at 20545 yuan / ton within a day. At the beginning of the day, the pressure of the 5-day moving average of Shanghai zinc was measured twice, but both of them failed to stand firm, and the center of gravity moved down to 20520 yuan / ton to find support. In the afternoon, the bulls came into play to boost the suppression of the daily moving average of zinc in Shanghai, and consolidated slightly at the first line of 20565 yuan / ton. Near the European trading period, the bulls left the market neatly, dragging down 20465 yuan / ton of zinc in Shanghai and closing down at 20480 yuan / ton. Compared with the previous transaction, it fell 65 yuan per ton, or 0.32%. Trading volume decreased by 124000 hands to 394000 hands and position by 12806 hands to 271000 hands. During the day, the zinc bulls in Shanghai mainly reduced their positions, mainly due to the increase in social inventory in the three regions during the day. Although the overall decline was small, there was still a follow-up accumulation forecast, and the bulls did not have sufficient confidence. 06 and 07 contract, 06 and 08 contract monthly difference continues interval concussion, near strong far weak pattern still has the possibility to further strengthen, observe the 20-day EMA suppression intensity at night.

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