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[brief comment on Zinc in SMM period] within a day, Shanghai Zinc completed the main month-to-month night observation on the suppression of the 10-day EMA.
Jul 4,2019 16:29CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7, April 4, news:

Today, Shanghai Zinc completed the main month change, Shanghai Zinc 1908 contract opened at 19680 yuan / ton, the Shanghai market ran in the daily average line concussion operation at the beginning of the day, the operating range did not exceed 20 yuan / ton, then empty into Duoping, Shanghai zinc operation center of gravity moved down to 19630 yuan / ton first line to find support, in the afternoon Shanghai zinc once again sent up to 19670 yuan / ton first line finishing reserve, the end of the plate reached 19735 yuan / ton after the pressure dropped, closed up 19665 yuan / ton, Compared with the previous transaction, it rose 15 yuan per ton, or 0.08 percent, with trading volume down 12000 hands to 192000 hands and positions down 8284 hands to 219000 hands.

 

Shanghai zinc main 1909 contract opened at 19525 yuan / ton, Shanghai zinc around 19520 yuan / ton narrow range finishing operation, then short into the market, Shanghai zinc operation center of gravity fell to 19480 yuan / ton, near the European trading period, short significantly reduced positions to lift Shanghai zinc upward touch high 19590 yuan / ton, then 5 days moving average suppression strength appeared, Shanghai zinc slightly down to the daily average near, closed at 19515 yuan / ton, down 5 yuan / ton from the previous transaction, the main contract of Shanghai zinc opened at 19525 yuan / ton at the beginning of the day, and then the Shanghai zinc operation center of gravity fell to 19480 yuan / ton at the beginning of the day, closing up to 19515 yuan / ton at the beginning of the day, down 5 yuan / ton from the previous transaction. It rose 0.03%, with trading volume up 3790 to 154000 and positions down 1032 to 224000. Within a day, Shanghai zinc received a small negative line, attached to the shadow line 5, 10 days EMA double adhesion suppression, MACD index showed gentle, indicating that Shanghai zinc or no strong back rising kinetic energy. Superimposed supply-side production recovery, the market for the subsequent inventory accumulation is still expected, the fundamentals do not have a strong support, pay attention to the 10-day EMA suppression efforts at night.

 

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