[SMM Nickel Morning News] Lunni retreats to its 60-day moving average and pays close attention to the support of the 5-day moving average to Lunni.

SMM, 22 April:

Lunni opened at $12470 / tonne yesterday, after a brief shock weakening, due to the Shanghai nickel morning market selling pressure dragged down, Lunni accelerated downward away from the daily average, once fell to $12170 / tonne before stabilizing, followed by a 60-day moving average of $12250 / tonne. The price of crude oil stopped falling in the afternoon, and it was only when the center of gravity of Lunni was lifted back to the shock near the daily average price. After entering the European session, Lunni gradually fell back and retreated to the 60-day moving average, with a wide swing around the line until the close, closing at $12160 / tonne, down $335 / tonne, or 2.68 per cent, from the previous day's settlement price. The trading volume was reduced by 71 hands to 7365 hands, and the position was reduced by 560 hands to 218623 hands. Lunni closed in the small negative column last night, the K column broke the 60-day moving average, the lower 5-day moving average is supported, Lunni opened at $11620 / ton today, follow-up attention to the 5-day moving average support for Lunni.

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