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[brief Review of Nickel in SMM period] Shanghai Nickel diurnal rise and then fall below 5 / 20 moving average Crossing support
Oct 31,2019 17:52CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 31 October:

Shanghai nickel 1912 contract opened today at 133900 yuan / ton, at the beginning of the day, the pressure daily moving average fluctuated slightly, then around 9:40, the long position, Shanghai nickel upward pull up, touch high 134970 yuan / ton, then quickly fell back, to the daily moving average of 134000 yuan / ton for a short time to get support, horizontal plate concussion. In the afternoon, Shanghai nickel went down again, under pressure daily moving average, the lower 5-day moving average was supported, the interval concussion operation, and finally closed at 133700 yuan / ton, compared with the settlement price of the previous trading day rose 350 yuan / ton, up 0.26%, trading volume decreased by 65000 to 672000 hands, position reduced by 8000 to 232000 hands. Shanghai Nickel 2001 contract today increased positions by 1838 to 242074 hands, has become the main position of the contract. Shanghai Nickel 1912 contract closed today in the small Yin column, the bottom of the 5 / 20 moving average crossing support, the upper 135000 yuan / ton level facing strong resistance, this evening concerned about the Shanghai Nickel 134000 yuan / ton level breakthrough.

This evening, we focus on the number of initial jobless claims (10,000) in the week ended Oct. 26 in the United States, the monthly rate of personal expenditure in the United States in September and the annual rate of the core PCE price index in the United States in September. Chicago PMI; in the United States in the week ended Oct. 25, the United States EIA natural gas stocks (100 million cubic feet) in the week ended Oct. 25.

Focus on the incident in the House of Representatives in Washington to hold a full house vote to formalize the impeachment investigation process against Trump.

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