SMM, 23 Oct:
The 1912 contract of Shanghai Aluminum Company opened at 13790 yuan / ton in the morning, hovering in the front line of 13785 yuan / ton before noon to seek an opportunity to break through. During the entanglement period, Shanghai aluminum always did not accumulate enough power to go up. In the afternoon, it fell below all moving averages and fell below 13760 yuan / ton. At this time, the lack of short confidence began to run away one after another. Shanghai aluminum thus gained momentum and began to rebound from low levels, hitting a high of 13795 yuan / ton in late trading and closing at 13790 yuan / ton. Up 10 yuan / ton, up 0.07%, position reduced by 3778 hands to 238000 hands, trading volume reduced 37280 hands to 59788 hands, closed in the small positive line, the center of gravity is basically the same as yesterday. Within the day, the trend of Shanghai aluminum is relatively stable, the upper 13800 yuan / ton gate resistance level is obvious, because the inventory to stack the spot is strong, short confidence is not strong, there is still a certain degree of support in the short term, it is expected to maintain the interval weak concussion in the evening, and seek new disk logic in the long-short game, pay attention to the change of position and the tendency of market atmosphere in the evening.
(Shanghai Nonferrous Network Yiliang 021-20707892)