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[brief comment on Tin in SMM period] the tin center of gravity in short position reduction in Shanghai period moves up
Jun 25,2019 17:10CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM6 25-month news: Shanghai tin main 1909 contract last night after the opening of 143660 yuan / ton, the overall maintenance of the consolidation situation, during the period fell to last night's low of 143550 yuan / ton hit bottom to rise, again back to the previous horizontal range of 143600 yuan 143700 yuan / ton near shock finishing. After the opening of 143790 yuan / ton in early trading this morning, at the beginning of the day, due to the impact of short position reduction forces, the heavy heart of tin in Shanghai rose to the intraday high of 144230 yuan / ton, and then the long and short forces intertwined with the overall concussion of tin in Shanghai. Finally, it closed at 144090 yuan / ton, up 710 yuan / ton, up 0.5 per cent. The trading volume was 11086, a decrease of 1242. The position was reduced by 42432 hands. Today, Shanghai tin center of gravity moved up, and finally closed with the positive line, the physical part is located near the 5-day moving average, the upper shadow line is under pressure on the 20-day moving average. It is estimated that the lower support of Shanghai tin is located at the high point of 143500 yuan / ton in the early stage of the platform, and the upper resistance is near the 10-day moving average of 144500 yuan / ton.

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