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[SMM tin morning news] internal and external tin center of gravity high stability
Oct 11,2019 08:59CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM October 11: trend: Lunxi Electronics yesterday opened at $16475 / tonne, as high as $16525 / tonne, as low as $16340 / tonne, closing at $16445 / tonne, up $45 / tonne. A total of 203 hands were traded throughout the day, and 18071 hands were held, an increase of 291 hands. Inventory was 6645 tons, 15 tons less than in the previous period.

After the opening of US $16475 / ton today, the Asian plate remained in horizontal arrangement near the opening price from morning to noon, and rose slightly to US $16505 / ton in the afternoon. After the opening of the European market, the continuation of the downward trend all the way down to $16340 / ton after hitting the bottom, and finally closed at $16445 / ton, showing a small negative line, the upper shadow line under pressure in the 20-day moving average, the lower shadow line near the 5-day moving average and supported by the 10-day moving average, it is expected that the support below Lunxi is around the integer level of $16000 / ton, and the upper resistance is around the 40-day moving average of $16600 / ton.

Shanghai tin trend: Shanghai tin main 2001 contract opened last night 136520 yuan / ton, the highest 137050 yuan / ton, the lowest 136300 yuan / ton, closed 136370 yuan / ton, down 300 yuan / ton. 12250 hands were traded and 39494 hands were held, an increase of 246 hands.

Shanghai tin main force 2001 contract last night after the opening of 136520 yuan / ton, the overall end of the session in 136600 yuan / ton near the wide shock, the highest rush to the night high 137050 yuan / ton after the hindrance to fall back, Shanghai tin closed last night with 136370 yuan / ton, showing a cross star line, below by the 5-10 moving average support, Shanghai tin resistance is expected to be near the 20-day moving average of 137500 yuan / ton, the lower support is located in the 40-60 daily moving average of 135000 yuan / ton.

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