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[brief comment on nickel in SMM period] Shanghai nickel continues to collect overcast bulls and the main force has not yet significantly reduced its position.
Jul 25,2019 16:30CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 25 / PRNewswire-Asianet /-

The Shanghai nickel 1910 contract opened at 113700 yuan / ton today. At the beginning of the day, Shanghai nickel opened high and walked low, mainly with long positions reduced. Shanghai nickel fluctuated in a narrow range after falling to about 113000 yuan / ton. Near the close of the morning, Shanghai nickel further down, but in time to stop the decline to recover. In the afternoon, Shanghai nickel short increased a large number of positions, Shanghai nickel concussion fell to 112000 tons after a narrow consolidation, and then due to weak operating pressure, bulls continued to reduce positions, by the end of the day, Shanghai nickel bottomed out 110000, fluctuating 3700 yuan all day, closing at 110040 yuan / ton. The main Shanghai nickel market fell 1910 yuan, or 1.71 percent, from the previous day's settlement price. Trading volume increased by 378000 hands to 1.563 million hands, and position volume increased by 29600 hands to 343000 hands. Close in the Dayin line, the pressure above the 5-day moving average, shadow line under the 10-day moving average, pay attention to the trend of long funds in the evening, as a whole, Shanghai nickel pullback early long funds have not reduced a large number of positions, nickel prices are still in the consolidation range.

 

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