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[SMM Nickel Morning News] Shanghai Nickel's rebound is blocked, high rebound, back support, long and empty to continue the game.
Jul 21,2020 08:47CST
translation
Source:SMM
[SMM Nickel Morning News: Shanghai Nickel rebound blocked high back support to continue the game] Today Lunni still has rebound demand release, pay attention to the above 10 moving average short resistance, if not break through, Lunni may fall back to support position re-consolidation. Last night Shanghai nickel rebound blocked after still retreating to the 20-day moving average, today or concussion in 105000 Mel 107000 line, long and short both sides continue to play the game.
The content below was translated by Tencent automatically for reference.

SMM, July 21:

 

Lenny opened at $13150 / tonne yesterday and gradually stabilized to $13215 / tonne after opening. At about 9:30, dragged down by Shanghai nickel selling pressure, Lenny quickly gave up its gains and fell back to 13070 US dollars / ton, but soon turned red again and shook at 13180 US dollars / ton. In the afternoon, Lunni center of gravity station on 13200 US dollars / ton began to fluctuate in a narrow range until the end of the European market. In the evening US market, Lunni once rebounded to 13350 US dollars / ton, but still gave up its gains after being under pressure. It closed at $13200 a ton, up $15, or 0.11%. Today, Lunni still has a rebound demand release, pay attention to the above 10 moving average short resistance, if not break through, Lunni may fall back to support position re-consolidation.

Shanghai Nickel 2010 main contract showed a trend of rising and falling in the night market yesterday. Shanghai Nickel Night Market opened at 105690 yuan / ton, briefly rose to 106000 yuan / ton after opening, then fell under pressure. Soon after, Shanghai Nickel backed against the 20-day moving average and rose again, reaching a maximum of 106720 yuan / ton. Then the bears entered the market to sell pressure, Shanghai Nickel turned downward, constantly giving up all the increases in the night market, turned more green at the end of the day, and finally closed at 105500 yuan / ton. It fell 130 yuan / ton, or 0.12%. Last night Shanghai nickel rebound blocked after still retreating to the 20-day moving average, today or concussion in 105000 Mel 107000 line, long and short both sides continue to play the game.

 

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