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[brief comment on nickel in SMM period] Shanghai nickel 4 Lianyang after the first negative breakthrough before the high shock finishing
Jun 28,2019 17:25CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 28 / PRNewswire-Asianet /-

Shanghai nickel 1908 opened today at 102220 yuan / ton, at the beginning of the day, with a daily average of 102000 yuan / ton first-line support, narrow range shock operation. Subsequently, Shanghai nickel fell below the daily average, down to 101300 yuan / ton line after the support slightly up. In the afternoon, Shanghai nickel fell back to 101200 yuan / ton line, during which it was supported by 101200 yuan / ton gate many times, and the center of gravity fluctuated slightly around 101400 yuan / ton line, closing at 101490 yuan / ton, up 400 yuan / ton, or 0.40 percent, compared with the settlement price of the previous trading day. Trading volume decreased by 47600 hands to 768000 hands, and position volume decreased by 13900 hands to 203000 hands. Throughout the day, the Shanghai nickel main contract closed at the Xiaoyin line, for the first time this week, but still run along the Boll line. Today, the position of the Shanghai Ni 1907 contract has been reduced by 17700 to 32700. The Shanghai Ni 1907 and 1908 contract has now changed from the previous back structure to the contango structure, and the possibility of squeeze 07 continues to decrease. In the evening, we pay attention to the resistance of the boll track to the Shanghai Ni 1908 contract.

At night, we should pay attention to the initial annual rate of euro zone CPI in June; the monthly rate of personal spending in May, the monthly rate of core PCE price index in May, the annual rate; the final value of PMI in Chicago in June and the University of Michigan consumer confidence index in June.

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