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[brief Review of SMM Nickel] the rising trend of Shanghai Nickel Stock Market continues to rise to a new high and the bullish energy is still at a high level and still needs to be consolidated.
May 21,2020 17:21CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, May 21:

Shanghai Nickel 2007 main contract opened at 104780 today. Last night, Shanghai Nickel broke through the pressure level and rose sharply. After the opening of trading this morning, the bullish offensive continued to increase positions, reaching as high as 105800 yuan / ton in the morning, a new high in nearly three months. After that, the increase in Shanghai nickel vomiting fell to 104400 yuan / ton, the lowest point in the day. After that, Shanghai Nickel gradually stabilized and rose back above 105000 yuan / ton until the end of morning trading. In the afternoon, the long and short sides still played a game around 105000 yuan / ton, but mainly to reduce positions, although at one point down 104480 yuan / ton, but the end of the day before the end of the Shanghai nickel rose again, and finally closed at 105110 yuan / ton. The settlement price rose 2570 yuan / ton, or 2.51%, compared with yesterday. The position increased by 16820 hands to 117000 hands, and the daily position increment in the morning market once reached more than 20, 000 hands, indicating that the bulls' energy was strong, so the short positions of the day mostly chose to avoid risks and leave at the end of the day. The trading volume increased by 130000 hands to 435000, recording Dayangzhu, which stood on the first line of 102500 yuan / ton. At present, the main position of Shanghai Nickel bulls is still present, in the case of the domestic two sessions, the market has certain expectations for positive policies, making bears stop and wait and see. Pay attention to the long position of Shanghai Nickel in the evening and test whether Shanghai Nickel can continue to consolidate at the 105000 yuan / ton line.

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