SMM, July 21:
The Shanghai Nickel 2010 main contract opened at 105900 yuan / ton today and fell back near the 20-day moving average of 105500 yuan / ton at the opening. Then the bulls increased their positions upward. After the short selling pressure of Shanghai Nickel below 106000 yuan / ton, Shanghai Nickel continued to explore to 105440 yuan / ton after giving up its gains, which is the lowest point in the day. In the second trading session of the morning market, Shanghai Nickel gradually stabilized to 105800 yuan / ton shock adjustment. In the afternoon, Shanghai Nickel broke through to 106280 yuan / ton after adjustment, and the bulls continued to play games around less than 106000 yuan / ton. In the end, Shanghai Nickel closed at 105970 yuan / ton, up 340 yuan / ton, or 0.32%. The trading volume was 634502 lots, and the position increased by 1317 lots to 131630 lots. Shanghai Nickel recorded a positive cross today, supported by the 20-day moving average below. Waiting for the guidance of the outer disk in the evening, Shanghai Nickel may continue to test the 5 / 10 moving average pressure upward.
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