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[brief comment on Zinc in SMM period] within a day, Shanghai zinc recorded two consecutive positive night attention to the 20-day moving average suppression intensity.
Jul 16,2019 17:27CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7, 16th, news:

The main 1909 contract of Shanghai zinc opened at 19260 yuan / ton, and the short position dragged down Shanghai zinc to 19180 yuan / ton at the beginning of the day. After finding support, it returned to rise 19330 yuan / ton, but failed to stand firm and quickly fell back to the daily average. However, it closed up 19250 yuan / ton, 35 yuan / ton higher than the previous transaction, an increase of 0.18%. The trading volume decreased 10676 hands to 393000 hands, and the position decreased 6576 hands to 271000 hands. During the day, Shanghai zinc closed in the sun, the overall support in the lower 5-day EMA operation, MACD indicators formed a gold fork, indicating that Shanghai zinc may have an upward trend, domestic inventories continue to decline slightly to give bulls a certain degree of confidence, the daily increase in positions to long, night observation above the 20-day EMA suppression.

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