SMM, 23 Oct:
Trend: Lunxi Electronics opened yesterday at $16730 / tonne, up $16920 / tonne and as low as $16660 / tonne, closing at $16920 / tonne, up $16920 / tonne. A total of 326 hands were traded throughout the day, and 17092 hands were held, a decrease of 321 hands. Inventory was 6685 tons, 15 tons less than in the previous period.
Lunxi electronic plate yesterday after the opening of $16730 / ton, the Asian session to the opening of the European market, Lunxi overall maintained a wide volatility near the opening price, hitting an intraday low of $16660 / ton. Subsequently, Lunxi received the downside of the dollar index, the rise in crude oil prices and the impact of the sharp rise in Shanghai tin night trading quickly rushed up to a daily high of $16920 / ton and closed on this basis, showing a Changyang line during the day, the bottom part of the entity is supported by the 10-day moving average, the upper part is under pressure on the 5-day moving average, and the lower shadow line is near the 40-60 day moving average. the resistance above Lunxi is expected to be near the integer level of $17000 / ton.
Shanghai tin trend: Shanghai tin main 2001 contract opened last night night 137850 yuan / ton, the highest 139310 yuan / ton, the lowest 137630 yuan / ton, closed 139200 yuan / ton, up 1400 yuan / ton. 14340 hands were traded and 40232 hands were held, an increase of 8 hands.
Shanghai tin main force 2001 contract last night after the opening of 137850 yuan / ton, as a result of long market entry and short closing positions, but Shanghai tin since the opening of last night shock all the way up, the highest line to 139310 yuan / ton after a small decline, and finally closed at 139200 yuan / ton, showing a long yang line, the physical part is located near the 5-10 moving average, it is expected that the tin resistance above Shanghai period is 140000 yuan / ton at the integer level.
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