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[SMM lead Morning News] Macro good news will be released within days to see if Shanghai lead can hold the Wanqi pass.
Oct 14,2019 08:58CST
The content below was translated by Tencent automatically for reference.

SMM, 14 October:

Last Friday, lun lead opened at 2152.5 US dollars / ton. In the Asian period, Lun lead basically ran along the daily moving average, and entered the European period. Under the influence of the strong trend of Lun lead, the center of gravity of Lun lead began to rise, and the later US index weakened substantially, helping to push the rise of non-ferrous metals on the outer plate. Lun lead also took advantage of the trend to continue the rally, followed by the release of news of substantial progress in Sino-US consultations. Lun lead brushed a new high of US $2195 / ton in the recent year. However, there was a strong suppression at the integer level of $2200 / ton, and the pressure on Lun lead fell slightly to fluctuate near the daily average, and finally closed at $2177 / ton, up 23 dollars / ton, or 1.07%, and the position increased by 193 hands to 131951 hands. Lun lead eventually closed in the barefoot small positive line, although it has not yet broken through the US $2200 / ton pressing platform, but the technical side maintained a strong trend, coupled with the weekly level, the 5-and 10-day moving average firmly supported the weekly K line upward, Geneva lead may continue to try to break through the pressing platform.


Last Friday night, Shanghai lead 1911 contract opened at 16930 yuan / ton, outside the European market lead continued to strengthen, boosting the confidence of the bulls, Shanghai lead operation center of gravity slowly moved up, after the release of macro good news, Shanghai lead once climbed to 17065 yuan / ton, up $16930 / ton, up 0.71%, positions increased by 822 hands to 50668 hands. Shanghai lead temporarily closed the Zhongyang line, stop falling and return to rise, the lower 60-day moving average support is effective, and 5, 10 moving average turned upward, but the return of Shanghai lead to more than 10, 000 is the promotion of macro, within the day to pay close attention to whether Shanghai lead can stand firm Wan Qi.

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