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[SMM lead Morning News] Shanghai lead is back on the 60-day moving average, up 0.71% overnight.
Oct 16,2019 08:46CST
The content below was translated by Tencent automatically for reference.

SMM, 16 October:

Overnight, lun lead opened at $2137.5 / ton, Asian time, the market tends to be light, Lun lead as a whole around the 2140 line of narrow operation, and then entered the European period, Lun lead hit the bottom rebound, as high as $2161 / ton, after high power shortage, Lun lead back to give up the rise, finally reported at $2149 / ton, up 11 dollars / ton, up 0.51%, the position decreased by 3405 hands to 129000 hands. Lun lead continues high consolidation, technically pointing to a long arrangement.

Overnight, Shanghai lead 1911 contract opened at 16820 yuan / ton, Shanghai lead quickly rose at the beginning of the day, re-standing on the 60-day moving average support, alleviating the risk of short-term break down, the high level once reached 16985 yuan / ton, after Shanghai lead high kinetic energy deficiency, back to give up part of the increase, finally reported in 16930 yuan / ton, up 120 yuan / ton, up 0.71%, position reduced 72 hands to 52972 hands. Shanghai lead yesterday the overall trend is weak, overnight main pull up prices, technical temporary 60-day moving average support, but the overall trend of Shanghai lead began to fall, so still need to be careful Shanghai lead break downward.

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