Home / Metal News / Nickel / [brief Review of SMM Nickel] after Shanghai Nickel rises to a new high, the shock consolidation long kinetic energy still remains and continues to pay attention to the change of warehouse volume.
[brief Review of SMM Nickel] after Shanghai Nickel rises to a new high, the shock consolidation long kinetic energy still remains and continues to pay attention to the change of warehouse volume.
Jul 7,2020 17:37CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 7:

Today, the main 2010 contract of Shanghai Nickel opened at 107650 yuan / ton, and immediately reached 108100 yuan / ton after opening, refreshing a new high after the Spring Festival, but then the bulls stopped their earnings and reduced their positions, and Shanghai Nickel began to fall continuously, falling to 106860 yuan / ton and then stabilizing after falling to 106860 yuan / ton. after rising around 107500 yuan / ton, it adjusted around 107100 yuan / ton. Opening in the afternoon, the bulls slightly increased their positions but failed to break through the daily average pressure of 107300 yuan / ton. After bearing the pressure, they bottomed out to 106670 yuan / ton, the lowest point of the day. However, the bears did not make any further offensive and gradually left the market. After Shanghai Nickel rose again, it finally closed at 107070 yuan / ton, up 1190 yuan / ton, or 1.12%. The trading volume was 652267 lots, and the position increased by 3613 lots to 131401 lots. After breaking upward last Friday, Shanghai Nickel has continuously strengthened to explore new highs. Although there is some pressure today, long positions have not reduced much, so Shanghai Nickel continues to fluctuate at high levels. At present, the technical indicators are still more, and it is expected to continue to explore after consolidation. At night, we will continue to pay attention to the pressure of 108000 yuan / ton and the change of positions.

 

 

"Click to view SMM exclusive historical price data

Big data business contact:

 

Shanghai Nickel Futures
Nickel Price
SMM brief Review

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn