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[SMM stainless Steel Futures Review] the SS2007 contract received support at the 10-day moving average at the lower end of the day.
May 18,2020 19:20CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM May 18: [SMM stainless Steel Review] SS2007 contract night market opened at 13310 yuan / ton, after the opening, the center of gravity as a whole around the daily average horizontal plate vibration finishing, and finally closed at 13320 yuan / ton, K-column is a Yang Cross Star. Stainless steel SS2007 contract opened at 13335 yuan / ton per day, at the beginning of the session, it rose sharply to 13500 yuan / ton mark, and then the center of gravity fluctuated in a narrow range near the 5-day moving average. In the afternoon, the center of gravity of the stainless steel contract moved downwards. In late trading, the long position reduction led the SS2007 contract down to 13400 yuan / ton, and finally closed at 13425 yuan / ton, up 85 yuan / ton, or 0.64%, over the previous trading day. The whole-day trading volume was 25882 lots, and the position increased by 134 lots to 54660 lots. Throughout the day, the SS2007 contract closed at Xiaoyangzhu, the K-column as a whole stood between the 5 / 10 moving average, and the lower 10-day moving average was supported at 13300 yuan / ton. Follow-up attention will be paid to the resistance of the 5-day moving average above, and whether it can break through the 13500 yuan / ton mark.

 

 

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