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[brief comment on Tin in SMM] short-term waiting Direction of Tin in triangular form in Shanghai
Jul 25,2019 17:34CST
The content below was translated by Tencent automatically for reference.

SMM7, 25th, news:

Shanghai tin main 1909 contract last night after the opening of 133990 yuan / ton, at the beginning of the day due to bulls increased positions quickly rose to 135460 yuan / ton, and then Shanghai tin overall maintained at the daily average of 134900 yuan / ton shock finishing. After the opening of 135160 yuan / ton in early trading this morning, due to the departure of short positions at the beginning of the day, Shanghai tin quickly rushed to an intraday high of 136220 yuan / ton, and then until the close, Shanghai tin showed a downward trend of concussion, finally closing at 134800 yuan / ton, up 1070 yuan / ton, up 0.80 per cent. The trading volume was 30324, a decrease of 17236. The position was reduced by 28104 hands. Today, due to the increase of long positions and the departure of short positions, the center of gravity of tin in Shanghai has risen, and the tin in Shanghai has changed from interval concussion to triangular shape. It is estimated that the resistance above tin in the short-term Shanghai period will be around 136000 yuan / ton, and the lower support will be around 134000 yuan / ton. We are waiting for the direction of tin in Shanghai in the near future.


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