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[SMM stainless Steel Futures Review] SS2007 contract fell today and gave up its rising trend in the past two weeks.
May 22,2020 16:35CST
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Source:SMM
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SMM, May 22:

[SMM stainless Steel Review] the SS2007 contract opened at 13600 yuan / ton at night, continued to weaken after opening at night, and stabilized at 13400 yuan / ton, with the center of gravity around a narrow range near the 5 / 10 moving average. One minute before the close, or due to the impact of Shanghai nickel straight down to the limit, stainless steel fell straight to close at 13350 yuan / ton. Morning trading opened at 13330 yuan / ton, continuing the nocturnal shock downward trend, continuing the weakening stage, falling below the 20-day moving average of 13200 yuan / ton, as low as 13090 yuan / ton, giving up all the gains in the past two weeks, and finally closing at 13120 yuan / ton. compared with the previous trading day, the settlement price fell 295 yuan / ton, or 2.2%. The whole-day trading volume increased by 8573 lots to 44214 lots, and the position decreased by 6455 lots to 47115 lots. Throughout the day, the SS2007 contract closed at the long negative column, falling below several moving averages, and the first line was temporarily supported at 13100 yuan / ton in the middle of the Boll line. K-pillar stood in the middle rail range of the Boll line as a whole, and today's decline gave up nearly two weeks of gains. MACD red column to green column, follow-up attention to the SS2007 contract under the 13000 yuan / ton mid-orbit support, but also concerned about the trend of nickel futures on the impact of stainless steel futures market trend.

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