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[brief Review of tin in SMM period] reduction of position of tin in shanghai period, first suppression and then center of gravity to maintain stability
Apr 24,2020 17:57CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 24 April:

After the Shanghai tin main force 2006 contract opened 128740 yuan / ton early today, it quickly rose to a daily high of 129320 yuan / ton at the beginning of the day, and was affected by the increase of short positions and the reduction of long positions, with the lowest falling to 127100 yuan / ton, the lowest point of the day. Subsequently, short positions reduced, Shanghai tin bottom rebounded and shock upward, erased most of the previous decline, and finally closed at 128870 yuan / ton, down 180 yuan / ton, down 0.14%, trading volume 40777 hands, position 34549 hands, down 1741 hands. Today, Shanghai tin closed with a cross star line, with the lower shadow line near the 60-day moving average and supported by the 5-10 moving average. It is expected that the short-term upper resistance of tin in Shanghai is near the integer level of 130000 yuan / ton, and the lower support is near the 40-day moving average of 125000 yuan / ton.

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