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[brief Review of SMM Tin] reduction of positions in Shanghai Tin first suppressed and then rose
May 18,2020 17:06CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, May 18:

 

Shanghai tin 2007 contract last Friday night trading 128750 yuan / ton, affected by long positions overall shock downward trend, the lowest to the intraday low of 127510 yuan / ton. After the opening of 127670 yuan / ton in early trading today, it rose rapidly under the influence of short positions and long positions. After wiping out all the losses in the night market, it continued to rise, reaching a intraday high of 130840 yuan / ton and then falling slightly. Finally, it closed at 130750 yuan / ton, up 1510 yuan / ton, or 1.17%. The turnover was 37700, the position was 30286, and the position was reduced by 725. Today, Shanghai tin closed with the Yang line, the physical part is located near the 5-10 moving average, the lower shadow line to the 20th moving average, the resistance above Shanghai tin is expected to be near the previous high of 132000 yuan / ton.

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