[brief comment on tin in SMM period] short position increase in Shanghai period tin bearing pressure down

Published: Jun 24, 2019 17:23

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SMM6 24-month news: Shanghai tin main 1909 contract Friday night trading 144110 yuan / ton after the opening, the beginning of the market quickly fell to 143720 yuan / ton after the maintenance of low consolidation. Subsequently, the recovery of tin bottom in Shanghai was as high as 144350 yuan / ton, and then it fell back to 144000 yuan / ton. After the opening of 143880 yuan / ton in early trading this morning, it generally showed a downward trend of wave bands, recovering slightly at the end of trading, and finally closing at 143380 yuan / ton, down 920 yuan / ton, down 0.64 per cent. The trading volume was 12328, an increase of 1636. The position was 42584 hands, an increase of 1052 hands. Today, as a result of the short position increased Shanghai tin overall downward trend, to the negative line closing, the physical part is located near the 5-day moving average, the shadow line to the 20-day moving average near. It is estimated that the lower support of Shanghai tin is located near the integer gate of 143000 yuan / ton, and the upper resistance is near the 10-day moving average of 144500 yuan / ton.

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