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[SMM Tin Morning News] during the internal and external trading period, tin Changyang rose to the gate of tin upsurge resistance in Shanghai.
Oct 16,2019 09:01CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM October 16: trend: Lunxi Electronics yesterday opened at $16560 / ton, as high as $16735 / ton, as low as $16470 / ton, closing at $16720 / ton, up $170 / ton. A total of 362 hands were traded throughout the day, and 18218 hands were held, a decrease of 268 hands. Inventory was 6555 tons, 35 tons less than in the previous period.

After the opening of the electronic plate of $16560 / ton yesterday, after the Asian session to the opening of the European market, Lunxi generally maintained a wide concussion near the opening price, then quickly rushed up to the intraday high of $16735 / ton and finished slightly, finally closing at $16720 / ton, showing a positive line, with the physical part located near the 40-day moving average and the lower shadow line near the 5-20 moving average. It is expected that the support below Lunxi is near the 20-day moving average of $16500 / tonne, and the upper resistance is near the 60-day moving average of $16800 / tonne.

Shanghai tin trend: Shanghai tin main 2001 contract opened last night 137020 yuan / ton, the highest 138340 yuan / ton, the lowest 136900 yuan / ton, closed 138030 yuan / ton, up 1180 yuan / ton. 14270 hands were traded and 41126 positions were held, an increase of 1182 hands.

The Shanghai tin main force 2001 contract quickly fluctuated upward to a high of 138340 yuan / ton after the opening of 137020 yuan / ton last night, and remained at a high level of 138000 yuan / ton. Finally, it closed at 138030 yuan / ton, showing a positive line. The lower part of the entity is supported by the 5-20 moving average. It is expected that the resistance above the tin in Shanghai is near the previous platform high of 138000 yuan / ton, and the lower support is near the 10-day moving average of 136300 yuan / ton. Short-term attention to Shanghai tin can effectively break through 138000 yuan / ton near the suppression.

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