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[SMM Nickel Morning News] Lunni hit a new low in the past two weeks and is expected to show an interval concussion trend at the end of the last two weeks.
May 6,2020 05:00CST
The content below was translated by Tencent automatically for reference.

SMM May 6: two days before the holiday, the world's major stock markets fell, the previous rebound better U. S. stock futures also showed a downward trend, LME metal futures showed a downward trend at the beginning of the holiday, negative downward. Among them, the outer disk nickel from 12300 US dollars / ton first-line ladder down, 3 consecutive days negative fell to 11800 US dollars / ton. Technically, Lunni fell below multiple moving averages and fell back below the $12000 level again, down to the middle of the Boll line and near the 40-day moving average, temporarily supported. As of 14: 00 this afternoon, Lunni closed slightly and operated with a small concussion in the first line of $11900 / ton.

During the domestic holiday, Lunni fell continuously, falling to US $11800 / ton, a new low in nearly two weeks, giving back some of the gains of the previous rebound, but below it is close to the Boll line and the 40-day moving average, or there is support to interrupt the continuous downward trend. Above has fallen below a number of moving averages, the uplink is also faced with a lot of resistance, superimposed foreign epidemic situation has not been effectively controlled, the number of people continue to rise, the market pessimism still exists, so Lunni uplink is still insufficient, in the later stage, Lunni may show an interval concussion trend, with the middle rail position as the center of gravity concussion and consolidation.



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