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[SMM Zinc Morning News] overnight Zinc closing up Shanghai Zinc closing Day pays attention to the boosting effect of Outer disk
Oct 30,2019 08:44CST
The content below was translated by Tencent automatically for reference.

SMM, 30 October:

Overnight zinc opened at US $2536 / ton, the daily moving average rose steadily at the beginning of the day, and then fell slightly. As a whole, it fluctuated within a narrow range of US $2535 / ton. When it entered the European trading session, it climbed again and reached US $2555 / ton. However, under the strong suppression of the upper Brin Road, the zinc fell back to the low point of the day, and rose again at the end of the day, finally rising to US $2547 / ton, up US $11 / ton, or 0.43%. Trading volume reached 6480 hands, while position volume increased by 14231 hands to 249000 hands. Overnight zinc recorded five consecutive yang, the lower averages neatly upward to give Len zinc action energy, KDJ indicators showed a parallel narrowing trend, indicating that the upward slope of LME zinc may have slowed down, in addition, LME zinc stocks recorded a continuous decline, refreshing new lows also support zinc prices, Geneva zinc is expected to run strong in the vicinity of US $2510 to US $2560 / ton.

Overnight Shanghai zinc main force 1912 contract opened at 19130 yuan / ton, the whole around the daily average line in the vicinity of 19100 yuan / ton narrow horizontal concussion, the concussion range does not exceed 50 yuan / ton, the lower Wanjiu pass to Shanghai zinc strong support, overnight Shanghai zinc trend gently, closed down 19080 yuan / ton, down 30 yuan / ton, down 0.16%, trading volume to 99748 hands, position reduced 1712 hands to 196000 hands. Overnight, although Shanghai zinc is negative, but the lower Wanjiu pass support is strong, KDJ index showed an upward trend, showing Shanghai zinc temporary stop falling kinetic energy, superimposed outer disk trend strong boost, Shanghai zinc within the day or partial shock finishing, the operating range is 1880019300 yuan / ton. Today, domestic Shuangyan Zinc rose 60-80 yuan / ton to the 11 contract.

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