SMM7 March 24:
During the day, the 2009 contract for Shanghai lead opened at 15000 yuan / ton. In early trading, Shanghai lead fluctuated horizontally in the range of 15000 yuan / ton along the intraday moving average. In the afternoon, basic metals fell, Shanghai lead fell to an intraday low of 14800 yuan / ton, short positions were reduced, and Shanghai lead rebounded above the intraday moving average, closing at 14975 yuan / ton, up 125yuan / ton, or 0.84%. The position increased by 433 to 23087, and the trading volume increased by 9685 to 30476. Shanghai lead closed on the Changyang line, but the bears failed to break the 20-day moving average, and the bulls failed to explore the 10-day moving average again during the day, the long-short game was fierce, and trading was active. Fundamentally, there is a widespread shortage of supply in the north, which may boost lead prices and pay attention to whether Shanghai lead can stand on the 5-day moving average at night. It is expected that before the peak consumption season, Shanghai lead will still be supported by the 20-day moving average. Keep trying to break through the 10-day moving average.