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[SMM stainless Steel Future Review] the five-day moving average above the 13600 yuan / ton mark above the SS2009 contract is supported below the resistance.
Jul 15,2020 16:35CST
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Source:SMM
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SMM, July 15th,

[SMM stainless Steel Futures Review] SS2009 contract night market opened at 13580 yuan / ton, the overall center of gravity around the daily average line of 13620 yuan / ton narrow fluctuation, and finally closed at 13625 yuan / ton. Today, it opened at 13625 yuan / ton. After opening, it went down to the first line of 13550 yuan / ton. Then, it was supported by the 5-day moving average and fluctuated under pressure near the daily moving average of 13600 yuan / ton. At the end of the day, it fell back to around 13550 yuan / ton, and finally closed at 13555 yuan / ton. Compared with the settlement price of the previous day, it fell 120 yuan / ton, or 0.88%. The whole-day trading volume was 19723 lots, and the position decreased by 145lots to 42851 lots. Throughout the day, the SS2009 contract closed at the small negative column, and the stainless steel contract still stood above the multiple averages, but the upper 13600 yuan / ton mark faced resistance. Today, the stainless steel closed slightly, but the lower five-day moving average was supported, and the follow-up attention was paid to the first-line support of 13500 yuan / ton. Today is the delivery day of the SS2007 contract. The SS2007 contract is open today with 72 positions, with a settlement price of 13510 yuan / ton and a delivery volume of 360t.

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