SMM, July 2:
The overnight Shanghai Nickel 08 contract opened at 101400 yuan / ton last night, opened short and reduced positions. Shanghai Nickel rose to 102000 yuan / ton, and the pressure fluctuated down to 101700 yuan / ton. The center of gravity fluctuated within a narrow range around that position. At 23:35, short positions in Shanghai Nickel sharply reduced. After breaking through the initial pressure level, Shanghai Nickel broke through the nocturnal high of 102690 yuan / ton, and then was supported by small shocks at 102500 yuan / ton position until closing. Finally, it closed at 102580 yuan / ton, an increase of 730 yuan / ton, or 0.72%, over the settlement price of the previous day. The trading volume was 87911 lots, and the position decreased by 5068 lots to 74676 lots. Shanghai Nickel 08 contract closed at Xiaoyang column last night, the lower 60-day moving average trend upward, K-column operation in the 20 / 60-day moving average range, overall, Shanghai Nickel nearly a month showed a concussive trend, the direction is not obvious, short-term fundamentals have no obvious bullish and negative factors exist, the near future Shanghai Nickel High probability will still maintain the shock trend, it is necessary to guard against the increase of nickel price amplitude caused by sudden changes in macro mood.
The Lunni Asian market opened at 12805 US dollars / ton today and fluctuated around 12800 US dollars / ton in the morning, reaching as high as 12835 US dollars / ton and falling as low as 12740 US dollars / ton. In the afternoon, the center of gravity of Lunni gradually fell by US $12800 / ton and then fluctuated downwards. After entering the European trading session, it continued to decline up to US $12605 / t. The support near the integer level rebounded sharply. After a slight drop in the pressure of US $12700 / ton at the intersection of the 5pm 10 moving average, it continued to rise, reaching a high of US $12875 / ton at night and finally closed at US $12850 / ton, up 45 US dollars / ton, or 0.35%, from the settlement price of the previous trading day. The turnover was 7098 lots, and the position increased by 763 lots to 202000 lots. Lunni closed at the small positive pillar of the long lower shadow line last night, the K column stood above the averages, and the shadow line broke through the 20-day moving average and the 5 / 10 moving average. Lunni opened at 12855 US dollars / ton today. Today's 5 / 20 moving average may form a crossing around 12800 US dollars / ton. Today, test the support strength of this position.
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