SMM7 29 July news:
Shanghai tin main 1909 contract Friday night after the opening of 135500 yuan / ton, early trading quickly fell to 134700 yuan / ton to maintain the consolidation situation. After opening 134550 yuan / ton in early trading this morning, it fell rapidly to an intraday low of 133400 yuan / ton at the beginning of the day, slowly concussion upward, wiping out most of the decline since the start of trading today, and finally closed at 134400 yuan / ton, down 900 yuan / ton, down 0.67 per cent. The trading volume was 21696, an increase of 4096. The number of positions was 25714, a reduction of 1520. Today, Shanghai tin due to bulls left the field twice rapid decline, although there was a pullback, but the center of gravity still has a more obvious downward shift, with the negative line closing, the entity part is located near the 5-20 EMA. Today, Shanghai tin failed to effectively fall below the triangular finishing range, it is expected to support 134000 yuan / ton below Shanghai tin, and the upper resistance is near 135600 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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