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[SMM Nickel Morning News] Shanghai Nickel fell to 130000 yuan / ton first-line nickel fell 3.6%
Oct 17,2019 09:00CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 17 October:

Lunni Asia today opened at $16990 / tonne, after the opening, Lunni pressure daily average shock downward, to $16850 / tonne line of support, the center of gravity around the $16900 / tonne line of narrow shock. In the afternoon, when it entered Europe, it was weighed down by the uplink in the dollar index, and Lunni fell $16655 a tonne. At 21: 00 at night, Lunni fell again, falling below the 60-day moving average, down $16350 / tonne, and finally closed at $16390 / tonne, down $620 / tonne, or 3.64 per cent, from the settlement price of the previous trading day, with a trading volume of 7147 hands and a 5000 reduction in positions to 276000 hands. Lunni closed in the middle of the negative column, at the same time fell below the 60-day moving average and boll under the support, the top of the moving average resistance is strong, there is no other support below, today focus on Lunni 16200 US dollars / ton level.

Overnight, Shanghai nickel opened at 132800 yuan / ton, after the opening, short positions increased, Shanghai nickel pressure daily averages fell sharply, fell below 130000 yuan / ton mark, lower 129900 yuan / ton, then, slightly up, to 131300 yuan / ton daily average line pressure fell back, the lower 130000 yuan / ton integer gate was supported, and finally closed at 130220 yuan / ton, down 2470 yuan / ton from the settlement price of the previous trading day, down 1.86%, trading volume 968000 hands. Positions increased by 11000 to 369000. Overnight, Shanghai nickel closed in the small negative column, the top pressure on a number of averages, the bottom fell to the Boll line near the next track, today concerned about whether Shanghai nickel can be supported by the Boll line under the track, to maintain the 130000 yuan / ton barrier.

Today's focus is on the number of initial jobless claims in the United States through the week of October 12 (10,000), the monthly rate of industrial output in the United States in September, and EIA crude oil stocks (10,000 barrels) in the week from October 11 to 11.

 

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