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[brief comment on SMM Aluminum] Macro atmosphere improved and Shanghai Aluminum recorded Erlianyang today.
Jun 25,2019 15:20CST
translation
Source:SMM
The macro atmosphere improved and Shanghai Aluminum recorded Erlianyang today.
The content below was translated by Tencent automatically for reference.

SMM, June 25 / PRNewswire-Asianet /-

Shanghai aluminum main company 1908 contract trend today first suppression and then rise, the overall volatility is not large. In the morning, the cross star was recorded at 13900 yuan / ton, and at the beginning of the day, the cross star was slightly explored at the beginning of the day, and then fell below the daily moving average, and the low level fell to 13850 yuan / ton, but the macro atmosphere within the day was better. Under the background of almost the whole line of metal turning red in the inner plate, part of the short sellers' confidence was insufficient to withdraw from the market. Shanghai Aluminum got strength exploration in the low position, climbed all the way to the high point of 13915 yuan / ton in the day, and ended up in Erlianyang, the center of gravity was obviously higher than yesterday. Jumped above the 5-day moving average, closing at 13910 yuan / ton, up 110 yuan / ton, up 0.8%, trading volume increased by 9934 hands to 133000 hands, position increased by 1150 hands to 267000 hands, daily MACD significantly shortened, KDJ third line opening up. As the leaders of China and the United States once again agreed to maintain communication, release good signals, superimposed the background of the fall of the US Index, aluminum prices rose in the footsteps of other metals, but the news is expected to boost the role of limited, the upper four pressure levels are still difficult to break through, in the evening continue to pay attention to the long short position changes and the release of relevant macro news.

(SMM Shanghai Nonferrous Xuman 021 5159 5898)

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