[brief comment on Tin in SMM] the tin center of gravity rose slightly in Shanghai, and the consolidation pattern remained unchanged.

Published: Jul 26, 2019 18:54

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SMM7 26 June news:

Shanghai tin main 1909 contract last night after the opening of 134780 yuan / ton, overall showed a trend of promotion and then suppression, the initial shock rose to 135240 yuan / ton and then blocked down, all the way down to the intraday low of 134330 yuan / ton. Draw back quickly at the end of the day. After the opening of 134550 yuan / ton in early trading this morning, the overall upward trend showed a slight shock, falling back after hitting an intra-day high of 135650 yuan / ton, and finally closing at 135300 yuan / ton, up 134550 yuan / ton, an increase of 0.37 per cent. The trading volume was 17600, a decrease of 12724. The number of positions was reduced by 27234 hands. Today, Shanghai tin closed with a small positive line, the physical part is located near the 20-day moving average, the lower shadow line is near the 5-10-day moving average, the resistance above the short-term Shanghai tin is expected to be around 136000 yuan / ton, and the lower support is around 134000 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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