[SMM Nickel Morning News] Nickel shows a trend of transverse disk concussion at night and faces strong resistance above.

SMM, 19 Jan:

Overnight, Shanghai nickel opened at 108500 yuan / ton, and 108000 yuan / ton below Shanghai nickel was supported at night. The center of gravity fluctuated around the daily average line of 108300 yuan / ton until the close, closing at 108320 yuan / ton. Compared with the settlement price of the previous trading day, the settlement price fell 1360 yuan / ton, down 1.24%, the trading volume decreased by 213000 hands to 190000 hands, and the position increased by 257 hands to 141337 hands. Overnight Shanghai nickel closed in the small negative line, the K column once again completely fell below the multiple moving averages, the lower 108000 yuan / ton line temporarily supported, the whole showed a small concussion trend, the subsequent expected Shanghai nickel is still in the shape of interval concussion.

Lunni opened at 13815 US dollars / ton today. After opening, Lunni strengthened slightly. After probing 13950 yuan / ton, the pressure fell back to near the daily average line. During the period, the pressure fell back many times, and the support range of the lower daily average line fluctuated. At night, Lunni continued to fluctuate during the day in the range of $13840-$13950 / tonne, with a centre of gravity around $13900 / tonne and closing at $13935 / tonne, up $135 / tonne, or 0.98 per cent, from the previous day's settlement price. The trading volume was reduced by 3043 hands to 5760 hands, and the position was reduced by 1979 hands to 258624 hands. Lunni closed in a small balcony, multiple moving averages of $14000 / tonne line faced with strong resistance, completely fell below the $14000 / tonne level, follow-up attention to Lunni 14000 yuan / tonne level range shock.

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