Home / Metal News / Tin / [SMM Tin Morning News] yesterday, Lunshi tin will operate firmly above the 5-day moving average in the short term to pay attention to the epidemic situation and economic recovery.
[SMM Tin Morning News] yesterday, Lunshi tin will operate firmly above the 5-day moving average in the short term to pay attention to the epidemic situation and economic recovery.
Jul 22,2020 09:23CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Lunxi trend: Lunxi electronic trading opened yesterday at 17410 US dollars / ton, with a maximum of 17630 US dollars / ton and a minimum of 17365 US dollars / tonne. It closed at 17575 US dollars per ton, up 1.15 per cent. 279 lots were traded and 15774 positions were held, an increase of 51 hands. Yesterday, LME inventory was 3980 tons, 20 tons less than the previous period. The Lunxi electronic disk opened at US $17410 / ton yesterday. Trading in the Asian market was light in the morning, fell slightly around midday, reached the intraday low of US $17365 / ton, fell back in the afternoon, fluctuated upwards, and rose to US $17495 / ton after the closing of the Asian market, followed by a pullback. After a small increase in the evening, it rose sharply to a daily high of US $17630 / ton, rebounded after reaching a peak, and fluctuated around US $17550 / ton to close at US $17575 / ton. As a positive line, the physical part is above the 5-day moving average, breaking away from the two moving averages. It is expected that Lunshi tin will operate firmly above the 5-day moving average in the short term, with a break through the Bollinger belt above the Lunxi Ribbon, or a pullback. The upper pressure level is expected to be around 17700 US dollars / ton. In addition, we need to continue to pay attention to the control of epidemic situation and economic recovery in foreign countries.

Shanghai tin trend: the Shanghai tin main 2009 contract opened at 142170 yuan / ton last night, the highest was 142900 yuan / ton, and the lowest was 141630 yuan / tonne. It closed at 141630 yuan / ton, up 0.23%. 19320 hands were traded and 26924 positions were held, a decrease of 645 hands. Shanghai tin 2009 contract high jump opened at 142170 yuan / ton last night, after the opening of the bulls entered, Shanghai Scylla rose to a night trading peak of 142900 yuan / ton. Then the bulls made profit-taking, the center of gravity moved down, then arranged horizontally, the bulls left the market again in the middle of the market, the tin center of gravity in Shanghai moved down to around 142100 yuan / ton, and then the long short game in Shanghai fluctuated across the market, and the bulls left the market in the last session. The bottom is also expected to reach a low of 141630 yuan / ton, closing at 141630 yuan / ton, showing a negative line, and the night market K line has been running above the 5-day moving average. It is estimated that the lower support level is located near the 10-day moving average of 141320 yuan / ton, and the upper pressure is around 143000 yuan / ton.

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