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[brief comment on nickel in SMM phase] Shanghai nickel 08 contract pressure moving average fluctuates at 98000 yuan / ton
Jul 5,2019 16:12CST
translation
Source:SMM
Today, the Shanghai Ni 1909 contract increased its position by 334to 119666 hands, and the main position contract has been changed to 1909.
The content below was translated by Tencent automatically for reference.

SMM, July 5 / PRNewswire-Asianet /-

Shanghai nickel 1908 opened at 98280 yuan / ton today. At the beginning of the day, Shanghai nickel fluctuated slightly above the daily average. Subsequently, Shanghai nickel fell below the daily average support, lower 97340 yuan / ton after rebounding to repair, forming a V trend. In the afternoon, Shanghai nickel center of gravity around the daily average of 98000 yuan / ton first-line narrow range concussion, closed at 98030 yuan / ton, compared with the previous day's settlement price fell 130yuan / ton, down 0.13%, trading volume decreased 37700 hands to 563000 hands, position volume decreased 14020 hands to 112136 hands. Throughout the day, the Shanghai nickel 08 contract ended at the Xiaoyin line, facing multiple EMA resistance and bearing pressure on the middle rail of the Boll line. At night, we pay attention to whether the Shanghai nickel 1908 can be stable at the 98000 yuan / ton gate. Today, the Shanghai Ni 1909 contract increased its position by 334to 119666 hands, and the main position contract has been changed to 1909.

This evening, we focused on the non-farm payrolls after the June quarter and the unemployment rate in the United States in June.

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