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[brief comment on Zinc in SMM period] short selling Zinc Price during the Day Shanghai Zinc jumps off the EMA
Jul 5,2019 16:43CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 News of the 5th of June:

The main 1909 contract of Shanghai zinc opened at 19330 yuan / ton at the beginning of the day. At the beginning of the day, Shanghai zinc opened high and low, and then rose to the opening price near the opening price. However, the daily average pressure fell to 19260 yuan / ton to find support. Near noon, more empty zinc boosted Shanghai zinc to reach 29370 yuan / ton. Subsequently, short positions came into the market to press zinc prices near the lower track of Brindao, closing down 19295 yuan / ton, down 225 yuan / ton, down 1.15%. Trading volume increased by 40002 hands to 194000 hands, and position volume increased by 13502 hands to 237000 hands. During the day, Shanghai zinc recorded two consecutive overcast, attached under the shadow line to prick the lower track of Bolin Road, and jumped off the EMA as a whole. Recently, the macroeconomic data of the world's major economies showed an overall pessimistic trend, superimposed Shanghai zinc fundamental support is temporarily weak, short positions significantly increased zinc prices, during the day, Shanghai, Guangdong and Tianjin social inventory has not increased, or given Shanghai zinc certain stop falling kinetic energy, night observation Bringdao off track support strength.

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