SMM July 23 News:
Shanghai tin main 1909 contract last night after the opening of 135030 yuan / ton, the initial rush to the night high of 135750 yuan / ton, and then until the end of night trading, Shanghai tin overall maintained a concussive situation. After the opening of $134890 / tonne in early trading this morning, low consolidation was maintained between early trading and midday trading. In the afternoon, Xichong fell back in Shanghai, reached an intraday high of 135600 yuan / ton, and finally closed at 134660 yuan / ton, up 450 yuan / ton, an increase of 0.34 per cent. The turnover was 14610. The number of positions was 27900, a reduction of 314. Today, the tin center of gravity in Shanghai is stable, closing with the Xiaoyin line, and the solid part is supported by the 5-10-day EMA. It is expected that the tin in Shanghai will support around 132000 yuan / ton, and the upper resistance will be around 137500 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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