[brief comment on Zinc in SMM period] the sharp rise in zinc in Shanghai during the day pays close attention to the suppression of the 40-day moving average at night.

SMM7 29 July news:

Within days, the main Shanghai zinc 1909 contract opened at 19305 yuan / ton, the beginning of the day long into the market to boost Shanghai zinc uplink to 19400 yuan / ton line finishing operation, and then Brindao middle track support strength appeared, Shanghai zinc once again rose to 19480 yuan / ton, steady upward, closed up 19495 yuan / ton, compared with the previous transaction rose 270 yuan / ton, up 1.40%, trading volume increased 30148 hands to 336000 hands, position decreased 890 hands to 262000 hands. Within a day, Shanghai zinc stopped falling and turned red, closing a big positive line, on the shadow line, the 40-day moving average was suppressed, and the KDJ index turned upward, indicating that the action in Shanghai, Guangdong, and Tianjin was stronger, and the social inventory in Shanghai, Guangdong, and Tianjin fell again within the day, or gave certain support to the zinc price, but the 40-day moving average above the 40-day moving average and 19500 yuan / ton pass suppression was still strong, and operated at night or around the middle track of Brin Road.