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[brief Review of Zinc in SMM period] short positions are mainly short during the day and pay attention to the suppression of the 10-day moving average at night.
Oct 8,2019 16:45CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM10, 8 March:

 

During the day, the Shanghai zinc main force 1911 contract jumped down to 18665 yuan / ton, and at the beginning of the day Shanghai zinc was slightly sorted down 18630 yuan / ton, and then the short withdrawal boosted Shanghai zinc upward to 18710 yuan / ton near the first line. In the afternoon, the short bears left again, and the Shanghai zinc uplink rose 18795 yuan / ton. however, under the suppression of the 10-day EMA above, the Shanghai zinc pressure fell back to 18730 yuan / ton, and the Shanghai zinc at the end of the day steadily broke through the daily moving average support again. It closed down at 18700 yuan / ton, down 30 yuan / ton, or 0.16%. The trading volume was reduced by 85388 hands to 111000 hands, and the position was reduced by 13068 hands to 159000 hands. Within days, Shanghai zinc received a small yang line, with a 40-day moving average on the shadow line, and the KDJ index turned upward, showing that Shanghai zinc may have action energy. On the first trading day after the National Day holiday, the cumulative increment of social inventory in the three places was less than expected, and the willingness to buy spot in the lower reaches was stronger. Fundamentals or given Shanghai zinc must go on the action energy, pay attention to the 10-day moving average suppression at night.

 

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