SMM, May 28th:
After the Shanghai tin 2007 contract opened last night at 133430 yuan / ton, affected by the successive reduction of positions by multi-air forces, the overall trend was first suppressed and then rose, and the shock fell to a low of 133090 yuan / ton before bottoming out and rising again. After the opening of 133790 yuan / ton in morning trading, the overall upward trend was concussive. After climbing the intraday high of 134720 yuan / ton, it fell slightly, and finally closed at 134520 yuan / ton, up 420 yuan / ton, or 0.31%. The trading volume was 32443 lots, the position was 10151 lots, and the position was reduced by 1529 hands, showing a small positive line, which was supported by the 5-day moving average. It is estimated that the resistance above the Shanghai tin 2007 contract is near the previous high of 136000 yuan / ton. Today, the main contract of Shanghai tin has changed from 2007 to 2008. Affected by the increase of long-short forces, the main 2008 contract of Shanghai tin also shows a trend of suppression at first and then an upward trend, with a closing price of 133670 yuan / ton, trading volume of 33308 lots, and position of 30555 hands. The day closed with the Xiaoyin line, and the lower shadow line was located near the 5-day moving average.
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