[SMM stainless Steel Futures Review] SS2009 contract is close to 13500 yuan / ton mark or will face some resistance.

Published: Jul 03, 2020 18:01 (GMT+8)

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SMM July 3, [SMM stainless Steel Review] SS2009 contract night opened at 13175 yuan / ton, the overall upward trend of shock at night, probing 13300 yuan / ton, and finally closed at 13320 yuan / ton. Today, it opened at 13320 yuan / ton during the day. At the beginning of the session, after a brief narrow shock, at about 9:50, the bulls increased their positions, and the stainless steel contract reached a high of 13470 yuan / ton. Then the high level fell to 13220 yuan / ton, and then pulled up again. To a small shock around 13365 yuan / ton. Finally, it closed at 13380 yuan / ton, an increase of 170yuan / ton, or 1.29%, over the settlement price of the previous day. The daily trading volume was 33086 lots, and the position increased by 5485 lots to 32097 lots. Throughout the day, the SS2009 contract closed at Changyangzhu, standing above the multi-heel moving average, close to 13500 yuan / ton, close to the previous high level of the platform, and the follow-up stainless steel contract near 13500 yuan / ton may face some resistance. Follow-up attention to the changes in the volume and upper pressure of both sides of the SS2009 contract.

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