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[brief comment on nickel in SMM] Shanghai nickel concussion consolidation trend, closed at the negative cross today
Jun 12,2019 16:15CST
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Source:SMM
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SMM, June 12 / PRNewswire-Asianet /-

Shanghai nickel 1907 opened today at 97930 yuan / ton, at the beginning of the day, touch high 98380 yuan / ton shock down, won 97800 yuan / ton first-line support. Subsequently, the pressure of 98000 yuan / ton gate, many times failed to break through, in the range of 97800 to 98000 yuan / ton narrow range shock. In the afternoon, Shanghai nickel fell below the 97800 yuan / ton support line, below 97400 yuan / ton line support, the center of gravity fluctuated slightly around 97500 yuan / ton, closing at 97390 yuan / ton. Throughout the day, the Shanghai Ni 1907 contract closed at Yin Cross Star, and the K line entity stood above the middle track of the Boll line. The settlement price rose 920 yuan per ton, or 0.95 percent, compared with the previous trading day. Trading volume fell 58500 hands to 647000 hands, and position volume decreased 17100 hands to 157000 hands. In the evening, we will pay attention to whether Shanghai nickel can stabilize above the 10-day moving average. Night should pay attention to the United States non-quarterly consumer price index and core consumer price index; the United States as of June 7 EIA crude oil inventory changes.

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