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[brief Review of SMM] Shanghai Nickel stabilizes and recovers the long decline last night and pays attention to the shock near the 10-day moving average after reducing its position last night.
May 8,2020 17:33CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 8 May:

Shanghai nickel today relatively stable trend, Shanghai nickel 2007 contract opened today at 101250 yuan / ton, early in the day Shanghai nickel around 101600 yuan / ton narrow range shock, above 101900 yuan / ton pressure, to 10:00, short positions mainly Shanghai nickel shock downward, down 100600 yuan / ton line. Then short positions followed up, Shanghai Nickel rose again, rising to 102000 yuan / ton all the way, and the pressure fell slightly at the end of the day, and finally closed at 101720 yuan / ton, down 0.13% from the settlement price of the previous day. Daytime trading volume decreased by 122000 to 290000, and daytime positions decreased by 385 to 87520. Shanghai Nickel closed at Xiaoyang column today, and there is still support at the 10-day moving average below the K-column. Pay attention to the shock above the Shanghai Nickel 10-day moving average at night.

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