SMM, 12 May:
Shanghai Aluminum's main 2007 contract opened at 12600 yuan / ton in the morning, and trading volume began to decline from yesterday's high. During the day, under the pressure of short positions, it fluctuated all the way down. As of the close, the lowest point of the day was 12415 yuan / ton, down 120 yuan / ton, or 0.96%. It closed at the Xiaoyin line, giving up all the gains yesterday, the position increased by 6105 to 148000 hands, and the trading volume increased by 812 to 84721 hands. The daily KDJ third line faces down, and the MACD red line continues to shorten. From the technical point of view, the upper 60-day moving average resistance is strong, Shanghai aluminum has always been hovering under its difficult to break through, taking into account the disk near strong far weak pattern further expansion, and the fundamentals long-term consumption is weak, short-term expected to continue to go up space is limited, continue to maintain in the evening below the 60-day moving average shock. Pay attention to the change of long short position at night. (SMM Xu Man 021 Mel 51595898)
