[brief comment on Tin in SMM] Multi-empty Force intertwined with Xiyang Line in Shanghai

Published: Jun 10, 2019 17:18

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SMM6 10-month news: Shanghai tin main 1909 contract this morning after the opening of 143530 yuan / ton, early trading to noon during the period to maintain the opening price near the shock finishing. In the afternoon, due to the dual factors of long position increase and short departure, tin rose sharply in Shanghai, climbing to an intraday high of 144440 yuan / ton, then fell back slightly, and finally closed at 144300 yuan / ton, up 1000 yuan / ton, an increase of 0.7 per cent. The trading volume was 12288, an increase of 1046. The position was 43230 hands, an increase of 470hands. Today, Shanghai tin overall showed a concussion rising trend, to close to the positive line, the physical part is located near the 10-day moving average, below by the 5-day EMA support. It is estimated that the support below Shanghai tin is 142500 yuan / ton, and the upper resistance level is near the 20-day moving average of 144800 yuan / ton.

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