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[SMM tin morning news] Shanghai tin last Friday night to maintain the center of gravity to maintain the stability of Longxi Changyin decline
Oct 28,2019 08:56CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 28 October:

Trend: Lunxi Electronics opened Friday at $16820 a tonne, up from $16820 a tonne to a minimum of $16620 a tonne, closing at $16675 a tonne, down $16820 a tonne. A total of 250 hands were sold throughout the day, while positions were held in 16959 hands, a decrease of 189 hands. Inventory was 6590 tons, 75 tons less than before.

After the opening of the electronic plate of 16820 US dollars / ton on Friday, after the opening of the Asian session to the opening of the European market, Lunxi generally maintained a horizontal arrangement near the opening price, and then, affected by the rise of the dollar index, Lunxi quickly fell to an intraday low of 16620 US dollars / ton and recovered slightly, finally closing at 16675 US dollars / ton, showing a negative line, with the physical part near the 510-10 and 40-day moving averages, supported by the 60-day moving average below. The lower shadow line is supported by the 20-day moving average, and the support below Lunxi is expected to be near the 20-day moving average of $16600 / ton.

Shanghai tin trend: Shanghai tin main 2001 contract opened on Friday night 138260 yuan / ton, the highest 138730 yuan / ton, the lowest 138000 yuan / ton, closed 138580 yuan / ton, up 380 yuan / ton. 9784 hands were traded and 40738 hands were held, an increase of 438 hands.

Shanghai main tin 2001 contract on Friday night after the opening of 138260 yuan / ton, affected by a small number of long positions, the overall shock upward trend, the highest hit 138730 yuan / ton after a small decline, and finally closed at 138580 yuan / ton, showing a small positive line, the physical part is near the 10-day moving average, below by the 5-day moving average support, Shanghai tin support is expected to be near the 20-day moving average, the upper resistance is 140000 yuan / ton at the integer level.

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