Home / Metal News / Nickel / [SMM Nickel Morning News] Nickel above Nickel Phase faces multiple EMA pressure Nickel oscillations at the $17000 / tonne level
[SMM Nickel Morning News] Nickel above Nickel Phase faces multiple EMA pressure Nickel oscillations at the $17000 / tonne level
Oct 16,2019 08:36CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 16 October:

Lunni Asia today opened at $17195 / tonne, after the opening, Lunni pressure daily averages shock downward, fell to $16800 / tonne to stop the decline to stabilize the concussion. In the afternoon, Lunni dived again, down $16710 a tonne, then revised up slightly, focusing on a narrow swing around $16900 a tonne and continuing into Europe. By 21: 30 in the evening, or supported by the dollar index, Lunni rose slightly to $17000 / tonne and closed at $17010 / tonne, down $285 / tonne, or 1.65 per cent, from the previous day's settlement price, trading volume 7915 hands and positions up 4000 to 281000 hands. Lunni closed in the small negative line, the whole stand below the 40-day moving average, above facing a number of moving average pressure, today pay attention to the operation of Lunni at the US $17000 / ton integer gate.

Overnight Shanghai nickel opened at 132530 yuan / ton, at the beginning of the day, the pressure daily moving average went down slightly to 131750 yuan / ton, rebounded and repaired, above the daily moving line, the center of gravity fluctuated narrowly around 133000 yuan / ton, and finally closed at 133180 yuan / ton, up 1260 yuan / ton, up 0.96%, trading volume 623000 hands, position reduced 4000 hands, 353000 hands. Overnight, Shanghai nickel closed at the small yang line, falling below the 40-day moving average of 134000 yuan / ton, far from the top of the moving average. Today, we pay attention to whether Shanghai nickel can stabilize the 133000 yuan / ton barrier, and pay attention to the resistance of the upper 40-day moving average.

Today's data focus on the monthly CPI rate in the UK and the eurozone in September; the monthly rate of retail sales in the US in September and the monthly rate of business inventories in August. The event focused on 2019 FOMC voting committee and Chicago Fed Chairman Evans (Charles Evans) spoke on economic and monetary policy in Illinois.

[for more information, please subscribe to SMM Nickel Research Group products "China Nickel Chromium stainless Steel Industry chain General report" and "China Nickel Chrome stainless Steel Industry chain High end report" to obtain the latest nickel mine, nickel pig iron (China + Indonesia), electrolytic nickel, nickel sulfate, chromium ore, ferrochromium, stainless steel (China + Indonesia) related data analysis and market analysis! For ordering and trial reading, please call 021-5166 6817 QQ: 2880505562, contact: Li Chuntian]

(TEL:021-5166 6817 QQ: 2880505562)

Shanghai Nickel spot
Nickel Price
trend Forecast
SMM Review
Daily Review
Shanghai Nickel Market Review
Nickel
Futures

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news