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[brief Review of Zinc in SMM period] near weak and far strong pattern shows that short departure boosts Zinc Price
Oct 18,2019 17:34CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM10, 18 March:

 

The intraday Shanghai zinc main force 1912 contract opened at 18800 yuan / ton, the Shanghai zinc pressure daily moving average runs at the beginning of the day, the whole around 18800 yuan / ton first line narrow range concussion, during the many attempts to test the daily moving average suppression strength failed to make a line, near afternoon, the short collective left the market to boost the Shanghai zinc steady upward, touch the high 18890 yuan / ton, the tail fell slightly, closed up 18860 yuan / ton, up 30 yuan / ton, up 0.16%, the trading volume decreased 18602 to 191000 hand, the short side left the market to boost the Shanghai zinc steadily upward, touching 18890 yuan / ton, closing up 18860 yuan / ton, up 30 yuan / ton, up 0.16%, the trading volume decreased 18602 to 191000 hands. Positions were reduced by 5240 to 200000. Within the day, Shanghai zinc received a small positive line, attached to the shadow line on the 5-day moving average, the lower shadow line supported in the 40-day moving average, the intra-month-month-month contract monthly difference narrowed to-5 yuan / ton, the far month of capital layout, showing that the market near weak and far strong pattern gradually strengthened, the bulls do not have the confidence to take the initiative to buy, pay attention to Brin Road middle rail suppression at night.

 

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