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[SMM Nickel Morning News] the Shanghai Nickel Night Market fluctuates above the 100000 gate and Lunni is closed today.
May 25,2020 09:02CST
The content below was translated by Tencent automatically for reference.

SMM, May 25:

Shanghai nickel dived in the early hours of Friday morning, and many contracts fell by the limit. The emergency was suspected of "own finger", and the mood of making up during the day was obvious. On Friday, the night market of Shanghai Nickel 2007 contract opened at 100000 yuan / ton, which fluctuated upwards after opening. The center of gravity fluctuated in a narrow range around the 40-day moving average of 100500 yuan / ton. After the short-term pressure, it continued to rise. After breaking the 20-day moving average of 101100 yuan /, the position changed from pressure to support. Subsequently, it fluctuated in a narrow range below 101500 yuan / ton above the position until the close, and finally closed at 101180 yuan / ton, up 1420 yuan / ton, or 1.42%, over the previous trading day. The trading volume was 170000 lots, and the position decreased by 2299 lots to 77000 lots. Shanghai Nickel closed at Xiaoyangzhu last Friday night, the K column runs through the 20 / 40 daily moving average, and the shadow line explores the position of the 5 / 10 moving average. Follow up, pay attention to whether Shanghai Nickel can continue the upward trend and repair the previous decline.

Renni opened at 12420 US dollars / ton on Friday and gradually fluctuated upward after opening, reaching as high as 12655 US dollars / tonne, but a large number of long positions were closed after the opening of Shanghai Nickel, which dragged Lenny down sharply, from red to green and fell to 12200 US dollars / ton. Temporarily supported. At one point in the afternoon, it rebounded to $12340 / tonne, but due to the pressure at the 10 moving average, Lenny turned around again and shook down until the end of the Asian session. After entering the European trading session, Lunni began to repair upward at the intraday low of 12105 US dollars / ton. The 20-day moving average at 12230 was under pressure and continued to rise after short-term concussion consolidation, piercing the daily average line to explore 12300 US dollars / ton, then slightly fluctuated back to close at 12280 US dollars / ton, which was 1.13% lower than the settlement price of the previous day. The trading volume was 11000 lots, and the position increased by 1514 hands to 214000 hands. Lenny closed at the Shadow Line Xiaoyin column last Friday, and the K column basically stood in the 5 / 10 moving average range. The shadow line failed to test the position of 12700 US dollars / ton, breaking below the 20-day moving average to 12100 US dollars / tonne. Today, the Bank of England Spring Holiday, the London Stock Exchange is closed for one day. Follow-up attention to whether Lunni can repair the decline, stable station above the 10-day moving average.


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