[brief comment on Tin in SMM period] the center of gravity of tin in Shanghai period has shifted downward in the period of a small increase in short positions in Shanghai.

Published: Jul 15, 2019 16:53

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SMM7 15-month news: Shanghai tin main 1909 contract Friday night trading 134170 yuan / ton, the beginning of the market fell to Friday night low 133480 yuan / ton, and then until the close, Shanghai tin overall maintained in the daily average of 133800 yuan / ton shock finishing. After opening 133970 yuan / ton in early trading this morning, it rose slightly to an intraday high of 134500 yuan / ton at the beginning of the day, until the close of Shanghai tin showed a downward trend of concussion as a whole, and finally closed at 133220 yuan / ton, down 1440 yuan / ton, down 1.07 per cent. The trading volume was 20680, a decrease of 6086. The number of positions was 32760, an increase of 462. Today, due to a small increase in short positions, the center of gravity of tin in Shanghai has moved down to the negative line, with the upper shadow line bearing pressure on the 5-10 day moving average. The resistance above Shanghai tin is expected to be 135000 yuan / ton above the 5-10 day moving average, and the lower support is located near 132500 yuan / ton.

"after the collapse of Shanghai and tin, the metal rose sharply and plummeted, and after the collapse, we need to study the fundamentals calmly.

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