SMM, 21 October 2019:

On Friday night, the Shanghai aluminum main company 1912 contract opened at 13880 yuan / ton, at the beginning of the day up 13915 yuan / ton intraday high, then the high level softened, slightly slipped below 13875 yuan / ton a narrow shock, the end of the day closed at 13885 yuan / ton, closed at the small positive line, recorded five Lianyang, the center of gravity leapt above the 5 / 10 moving average, position increased by 374 hands to 233000 hands, trading volume decreased by 54064 hands to 33910 hands, daily KDJ rose in the third line, MACD green line shortened. Last week, Shanghai aluminum recovered some of the previous decline, recorded a small rebound, but it is expected that the upward space is limited, today may run between 13840-13940 yuan / ton, spot discount in the rise of 40-80 yuan / ton.

Last Friday, Lun aluminum opened low at $1727 / ton, bowed to a low of $1723 / ton at the start of the day, and then rebounded from the low, climbing all the way up to a high of $1743 / ton, refreshing the highest point of the week. Due to high pressure from above, the last session closed slightly lower at $1736 / ton, up $7.50 / ton, up 0.43%, position increased by 3479 hands to 744000 hands, trading volume increased by 1096 hands to 9159 hands. Closed in the small yang line, recorded four Lianyang, the center of gravity moved up, the upper pressure 20 moving average. The evening US index fell sharply, with a low of 97.177 refreshing its low since July 22 and is expected to run between $1730 and $1750 a tonne during the day.

(SMM Xueman)