SMM7 March 21:

During the day, the 2009 contract for Shanghai lead opened at 14915 yuan / ton. In early trading, affected by the high shock of the Shanghai Composite Index, Shanghai lead was entrusted with the intraday moving average and was under pressure of 14940 yuan / ton horizontal adjustment. In the afternoon, bulls increased their positions, Shanghai lead wore the 5-day moving average and 10-day moving average along the way, and consolidated above the 10-day moving average of 15027 yuan / ton. It reached a daily high of 15075 yuan / ton several times, and finally closed at 15075 yuan / ton, up 300 yuan / ton, or 2.03%. The position increased by 881 to 19966, and the trading volume decreased by 4173 to 12920. Today, the overall trend of Shanghai lead is strong, reporting that the bald Changyang Line has successively crossed the 5-day moving average and 10-day moving average, and re-stood on the platform of 15000 yuan / ton. The KDJ index also shows signs of convergence, but due to the 5-day moving average has been under the 10 moving average, the upward pressure of Shanghai lead is still large. On the other hand, the consumption of lead in the upper and lower reaches of the fundamentals is warmer than before. Due to the limitation of profits, the supply of recycled lead is tight, and most of the consumption flows to electrolytic lead to boost the price of lead. At night, we need to pay attention to whether the bulls hold the Wanwu pass and pull Shanghai lead to continue to rise.