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[brief comment on Copper in SMM] the United States and Mexico have reached an agreement to superimpose the stock market and Shanghai Copper is expected to explore the 47000 level.
Jun 11,2019 16:25CST
translation
Source:SMM
A brief comment on SMM Copper issue on June 11th
The content below was translated by Tencent automatically for reference.

SMM, June 11 / PRNewswire-Asianet /-

Today, Shanghai Copper main contract 1908 opened in the morning at 46620 yuan / ton, continuing the trend of rising last night, today bulls increased significantly, opened slightly in 46630 yuan / ton consolidation, all the way up, afternoon trading center of gravity continued to maintain a high, and in 46800 between 46940 yuan / ton high shock finishing, during the period reached a high of 46940 yuan / ton, closing at 46900 yuan / ton, up 670 yuan / ton, an increase of 1.45%. Last night Shanghai copper main contract changed to 1908, today a total of nearly 15000 positions, a total of 222000 positions. Trading volume increased by 90, 000 to 163000. Shanghai Copper 1907 contract positions fell by nearly 10, 000 to 200000. The Shanghai Copper Index fell 5248 hands to 612000 today, while trading volume increased 180000 hands to 362000. Today, mainly by the agreement reached between the United States and Mexico, macro risk aversion sentiment has eased, at the same time, the domestic stock market has performed well, double positive performance has boosted today's copper prices, bulls actively joined the WTO, and pushed copper prices all the way higher. Shanghai copper closed at the physical Dayang column today, and reached the 20-day moving average. The KDJ index opened and expanded, the MACD index changed from the green column to the red column, the technology was supported by the copper price, and waited for the guidance of the outside market at night. Test whether Shanghai copper can exceed 47000 yuan / ton.

(SMM Song Yao)

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