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[SMM lead Morning News] Lun lead is still in a long market, Shanghai lead may continue to weaken within the day.
Oct 23,2019 08:58CST
translation
The content below was translated by Tencent automatically for reference.

SMM, Oct. 23: overnight, Lun lead opened at US $2209 / ton, Asia time, at the beginning of the session, the center of gravity of non-ferrous metals on the outer disk moved down, near the European period, the bulls gradually began to pull up the lead price to US $2228 / ton, and then due to the strength of the US index, Lun lead pressure fell back to US $2202 / ton platform operation, finally reported at US $2199.5 / ton, down 11.50 US dollars / ton, down 0.52%, the position increased by 2102 hands to 127000 hands. Lun lead newspaper long shadow small negative line, the upward pace is blocked again, but from the technical point of view, Lun lead is still in the long market trend, and LME0-3 promotion water to maintain a large back structure, so Lun lead has the possibility to continue to strengthen. Overnight, Shanghai lead 1912 contract short opened at 16835 yuan / ton, short plus code entry, resulting in Shanghai lead center of gravity continued to decline, and recorded a low of 16720 yuan / ton, finally closed at 16720 yuan / ton, down 95 yuan / ton, down 0.56%, the position increased by 5776 hands to 54752 hands. Shanghai lead temporarily closed the big negative line, fell below the 60-day moving average support, the upper pressure averages, from the technical graphics, Shanghai lead has broken position, and open the downlink space, coupled with the fundamentals are weak, Shanghai lead may continue to weaken within the day.

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