SMM, July 14:
The main 2009 contract of Shanghai tin opened at 143900 yuan / ton last night, fell slightly after the opening, followed by a pullback, followed by horizontal concussion, the center of gravity moved up after the middle of the market, hit the intraday high of 144400 yuan / ton above, and jumped down in late trading. Opened at 142820 yuan / ton in the morning, continued the downward trend at the end of the night after opening, fluctuated all the way down, reached a daily low of 141670 yuan / ton, rebounded after hitting the bottom, and rebounded again after a small drop in the afternoon. After opening in the afternoon, there was a slight concussion down, and then rebounded. There was a decline in late trading, closing at 142740 yuan / ton. There is a shady line within the day, the entity part is above all moving averages, and the lower shadow line is supported by the 5-day moving average. The lower support level is expected to be near the 5-day moving average of 141500 yuan / ton.