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[brief comment on Zinc in SMM period] the short position depresses zinc price during the day or runs on the weak side under pressure at night.
Jul 8,2019 17:00CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 News of the 8th of July:

At the beginning of the day, the main 1909 contract of Shanghai zinc opened at 19345 yuan / ton, and at the beginning of the day, Shanghai zinc was supported by the daily average of 19320 yuan / ton. With the sharp entry of short positions, the zinc price fell by 19135 yuan / ton, and then the support strength of Brindao was shown. Shanghai zinc failed to stand firm after falling and rising, and fell again to 19110 yuan / ton. After a small return, it fell back to 19135 yuan / ton, down 180 yuan / ton from the previous transaction. It fell 0.93 percent, with trading volume up 37128 to 231000 and positions up 9948 to 247000. Within the day, Shanghai zinc received three negative, attached long on the film line on the 5-day EMA suppression, within-day short significantly hit zinc prices, domestic Shanghai, Guangdong and Tianjin social inventory again recorded a small decline, but also strengthened the market for the follow-up accumulation of the degree of expectation, the current basic support is weak, Shanghai zinc at night or still under pressure 5-day EMA weak operation.

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