[SMM Nickel Morning News] Nickel rose by more than 4 per cent in Shanghai at night.

Published: Oct 23, 2019 08:43 (GMT+8)

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SMM, 23 Oct:

Overnight, Shanghai nickel opened at 125550 yuan / ton, after the opening, short positions were reduced, Shanghai nickel above the daily moving average, all the way up, through the 5-day moving average 128000 yuan / ton pressure level, breaking through the 5-day moving average 128000 yuan / ton, breaking through the 10-day moving average, touching 132210 yuan / ton, and finally 131190 yuan / ton. Compared with the settlement price of the previous trading day, the settlement price rose 550 yuan / ton, up 4.38%, trading volume 744000 hands. Positions were reduced by 22000 to 354000. Overnight Shanghai nickel closed in the central pole, breaking through the 560-day moving average resistance level, on the 10-day moving average, today pay attention to whether Shanghai nickel can stabilize 130000 yuan / ton first line.

Lunni Asia today opened at $16085 / tonne, daytime, Lunni pressurized $16100 / tonne pass, below $16050 / tonne first-line support, the center of gravity around the daily average narrow vibration operation. To 21: 30 at night, Lunni quickly rose, from $16000 / tonne, continued to rise, breaking through the 5-day moving average of $16300 / tonne resistance, up $16645 / tonne, and finally closed at $16560 / tonne, up $475 / tonne, 2.95% higher than the settlement price of the previous trading day, trading volume 11664 hands, positions minus 421 hands to 278000 hands. Lunni closed in the central pole, has pierced the 5-day moving average, the top faces the 10 / 60 moving average cross resistance, today pay attention to the 16700 US dollars / ton crossing resistance above Lonel.

This evening, focus on the United States to October 18 week EIA crude oil stocks (10,000 barrels).

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