[brief Review of SMM Tin] Shanghai tin was a cross star last night after it was first suppressed during the day and then during the day.

Published: Jul 09, 2020 17:14 (GMT+8)

SMM, July 9:

The main tin 2009 contract in Shanghai opened at 141100 yuan / ton last night, showing a trend of rising first and then suppressing it. After the opening, under the influence of bulls entering the market, it fluctuated slightly upward, hitting the intraday high of 141490 yuan / ton, followed by a pullback and horizontal finishing. It closed at 140950 yuan / ton. It opened at 141040 yuan / ton in the morning, and then, mainly under the influence of bulls leaving the market, Lunxi slightly shook down to the intraday low of 139700 yuan / ton, rebounded to the bottom and rose to 141370 yuan / ton, followed by a pullback to close at 140880 yuan / ton, down 270yuan / ton, or 0.19%. 33043 hands were traded, 30074 positions were held, and 525 hands were reduced. It is a cross star, the 5-day moving average support is received above the solid part, and the 10-day moving average support is received on the lower shadow line. it is estimated that the upper pressure level is located at 142000 yuan / ton, and the lower support level is located at 139500 yuan / ton 10-day moving average.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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