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[SMM Nickel Morning News] Lun Nickel closed Yang for the fifth consecutive day and explored the 103000 pass of Shanghai Nickel.
Jul 3,2020 08:45CST
translation
Source:SMM
[SMM Nickel Morning News: Lun Nickel closed Yang and Shanghai Nickel explored the 103000 pass for 5 consecutive days] follow-up pay attention to the resistance of 13000 US dollars / gate above Lunni, and pay attention to the adjustment trend of high shock pullback. Overnight Shanghai Nickel closed at Xiaoyang column yesterday, K column stood above multiple moving averages, and MACD Green column turned red. Today, we are concerned about whether Shanghai Nickel can continue the rising market and test the resistance of 103400 yuan / tonnage above.
The content below was translated by Tencent automatically for reference.

SMM, July 3:

 

The Lunni Asian market opened at 12855 US dollars / ton today and fluctuated in a narrow range around 12850 US dollars / ton. Shortly after the opening of Shanghai Nickel, Lunni fell slightly, reaching as low as 12785 US dollars / ton and then stopped falling by the 5 / 20 moving average. After that, it continued to operate below the daily moving average of 12835 US dollars / ton. At about 14:00 in the afternoon, boosted by the strong price of US crude oil, Lenny recovered its decline and turned red, continuing to rise into the European session, and did not fall under pressure until it rose to around US $12960 / ton. At night, the center of gravity of Lunni moved in a narrow range above 12900 US dollars / ton, and finally closed at 12920 US dollars / ton, up 70 US dollars / ton, or 0.54%. For five consecutive days, K-column stood above multiple moving averages, and has closed above the middle track of the Boll line. Out of the upward trend of a small rebound, follow-up attention to the resistance of 13000 US dollars / gate above Lenny, and pay attention to the adjustment trend of high shock fall.

The overnight Shanghai Nickel 08 contract opened at 102670 yuan / ton last night, which continued to rise at night, mainly with bulls increasing positions. Shanghai Nickel as a whole showed a shock upward trend. After opening, Shanghai Nickel fluctuated all the way to a night high of 103380 yuan / ton, and fell under pressure. It fell below the daily average line to support to 102800 yuan / ton, then rose again to 103200 yuan / ton, and the center of gravity fluctuated in a narrow range around this position until the close, and finally closed at 103250 yuan / ton. Compared with the previous trading day, the settlement price increased by 500 yuan / ton, or 0.49%. The trading volume was 75616 lots, and the position increased by 1050 lots to 73012 lots. Overnight Shanghai Nickel closed at Xiaoyang column yesterday, K column stood above multiple moving averages, and MACD Green column turned red. Today, we are concerned about whether Shanghai Nickel can continue the rising market and test the resistance of 103400 yuan / tonnage above.

 

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