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[SMM stainless steel review] SS2007 contract gets 20-day support under the 5-day average under pressure today.
May 26,2020 17:46CST
The content below was translated by Tencent automatically for reference.

SMM May 26th: [SMM stainless steel futures review] SS2007 contract night trading opened at 13295 yuan / ton, after opening at night, led by bulls reducing positions, all the way down to 13150 yuan / ton, and then gradually revised up to near the opening price, closing at 13250 yuan / ton. It opened at 13255 yuan / ton the next morning. At the beginning of the session, it rose slightly to 13300 yuan / ton, hit the 5-day moving average and fell back. It was temporarily supported near the 20-day moving average below. The center of gravity fluctuated around 13270 yuan / ton in a narrow range and finally closed at 13250 yuan / ton. Compared with the settlement price of the previous day, the settlement price increased by 25 yuan / ton, or 0.19%. The daily trading volume increased by 2161 to 26023, and the position decreased by 14362 to 23322. Throughout the day, the SS2007 contract closed in the small Yin column, the upper pressure 5-day moving average, the lower 20-day moving average support, the K-column as a whole stands in the 5 / 20 moving average range. The resistance at the top of 13300 yuan / ton is relatively strong, follow-up pay attention to the pressure of the 5-day moving average above the SS2007 contract.

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