[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.

SMM, 11 May:

Shanghai nickel, due to the central bank released the first quarter monetary policy implementation report yesterday, bringing positive signals to the market, most of the basic metals rose after the opening today, but Shanghai nickel came out of the trend of rising and falling. Today, the Shanghai Nickel 2007 main contract jumped short in the morning market at 102410 yuan / ton, and returned to the market at the beginning of the long week to actively increase its position, and the nickel price climbed to 103410 yuan / ton in a row. As close to the previous high, so pressure fell, vomiting all the increase in the morning, was suppressed to 102150 yuan / ton before noon. After the opening of the afternoon, the short air continued to test air pressure, Shanghai nickel is also gradually away from the daily moving average, exploring the lowest point in the day 101300 yuan / ton after 101300 yuan / ton, and finally closed at 101610 yuan / ton. Although Shanghai nickel changed from rise to fall today, giving back all the gains on Friday night and this morning, the short position left the market at the end of the day, so the daily position still increased by 2939 hands to 90459 hands compared with the previous trading day. Trading volume increased by 59242 hands to 761000 hands. The settlement price of the main contract fell 150 yuan / ton, or 0.15%, but still stood above all moving averages, recording a long upper shadow line and reaching an early high. Although the MACD red column gradually narrowed, but the technical aspect is still more. In addition, nickel downstream stainless steel showed a strong performance today, the current price has risen sharply. Therefore, the night market can pay attention to the more technical indicators of Shanghai nickel, whether it can launch an impact on the first line of 103500 yuan / ton again.

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