[SMM Nickel Morning News] Nickel

SMM, 15 October:

Lunni Asia today opened at $17500 / tonne, before noon, Lunni pressurized 10-day moving average, the center of gravity in the 5-day moving average of $17460 / ton near a small shock. In the afternoon, around 14:00, affected by the strength of the dollar index, Shanghai nickel shock downward, down $17175 / ton, followed by a 40-day moving average of $17200 / ton to support a small upward revision. Entering the European period, Lunni pressure daily average of US $17300 / ton narrow shock operation. At about 23:30 at night, Lunni plummeted in a straight line, falling below the $17000 / ton mark, probing down $16500 / ton, gaining support near the 60-day moving average, stabilizing, rebounding and repairing, returning to the front line of $17300 / ton, out of the deep V character, and finally closing at $17295 / tonne, down $230,1.31% from the settlement price of the previous trading day, trading volume 13774 hands, position increased 4000 to 277000 hands. Lunni closed in the long lower shadow line small negative column, the shadow line down 60 days moving average position, closed near the 40 day moving average, the top faces the multiple averaging line pressure, today pays attention to whether Lunni can stand the 40 day moving average line, defend 17200 US dollars / ton barrier.

Overnight Shanghai nickel opened at 135110 yuan / ton, at the beginning of the day, Shanghai nickel around the daily average line 135500 yuan / ton around the horizontal plate finishing. At 0: 00 at night, the 5 / 10 EMA fell below the 40-day moving average of 134000 yuan / ton, down 131740 yuan / ton, then rebounded to 134000 yuan / ton, and finally closed at 134480 yuan / ton, down 1290 yuan / ton from the settlement price of the previous trading day, down 0.95%, trading volume 876000 hands, position increased 11000 hands to 330000 hands. Overnight Shanghai nickel closed in the lower shadow line small negative line, the shadow line pierced the 40-day moving average support, the top gradually away from the 5 / 10 moving average level, today pay attention to the 40-day moving average 130000 / yuan level support for Shanghai nickel.

This morning, we focused on China's annual CPI rate in September; in the evening, on the ZEW economic sentiment index in Germany and the euro area in October; and on the New York Fed manufacturing index in October in the United States.

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