[SMM Nickel Morning News] Lunni showed a clear upward trend yesterday and followed up on US $11500 / ton position support.

Published: Apr 09, 2020 08:49 (GMT+8)

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SMM, 9 April:

Lunni opened at $11415 a tonne yesterday, with a daytime low of $11330 / tonne at the beginning of the day before rebounding in that position, with a resistance of $11590 per tonne all the way up through the 20-day moving average of $11450 / tonne. Entering the European period, Lunni turned downward, falling below the support level of $11500 / tonne, which fluctuated narrowly around the $11490 / tonne line until the close, and finally closed at $11510 / tonne, up $80 / tonne, or 0.7 per cent, from the settlement price of the previous trading day. Trading volume increased by 526 hands to 6454 hands, while positions decreased by 764 hands to 221896 hands. Lunni closed yesterday in a small balcony, the K column broke through the 20-day moving average resistance, 5-10-20 moving average may cross the technology, Lunni today opened at 11520 US dollars / ton, follow-up attention to whether Lunni can stand in this position.

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