[SMM Nickel Morning News] Shanghai Nickel is still a narrow concussion. Lunni strengthened slightly.

SMM, 11 Oct:

Lunni Asia today opened at $17335 / tonne, at the beginning of the day, Lunni concussion upward, to the 5th moving average of $17600 / tonne near the pressure horizontal plate concussion. In the afternoon, the dollar index continued to weaken, Lunni rose through the 5-day moving average pressure, touch higher 17685 US dollars / ton, under the pressure of 17700 US dollars / ton a narrow range of volatility. Subsequently, Lunni weakened and fell, dipping $17525 / ton and then rebounding slightly to a narrow range near the daily moving average, closing at $17595 / tonne, up $255a tonne, or 1.47 per cent, from the previous day's settlement price, with a trading volume of 4869 hands and a position of 275000 hands. Lunni closed in the small positive line, K column pierced multiple averages, today concerned about Lunni can stand 5-day moving average, to maintain the $17600 / ton level.

Overnight Shanghai nickel opened at 137360 yuan / ton, at the beginning of the day, under pressure 5 / 10 moving average, below the daily moving average weak downward, down 136150 yuan / ton. Subsequently, at night, the Shanghai nickel station was above the daily average line of 136600 yuan / ton, with a narrow range of 137000 yuan / ton above, and finally closed at 137000 yuan / ton, down 210 yuan / ton, or 0.15%, from the settlement price of the previous trading day, with a turnover of 187000 hands and an increase of 3000 hands to 309000 hands. Shanghai Nickel 1912 contract closed at the Yin Cross at night, the 5 / 10 moving average overlap 137000 yuan / ton first-line resistance is strong, today pay attention to Shanghai nickel at 137000 yuan / ton level concussion.

Today, we look at the annual rate of M2 money supply in China in September; the monthly rate of the US import price index in September compared with the initial consumer confidence index of the University of Michigan in October.

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