[SMM Nickel Morning News] Nickel market rushes high and falls back and the night market rebounds and stabilizes the technology to consolidate the center of gravity for more than today's high positions.

On the 29th of the month of SMM7:

Lunni opened at US $13800 / ton today, and its center of gravity fluctuated slightly around US $13820 / ton before the opening of the Asian market. After the opening of Shanghai Nickel, Lunni followed Shanghai Nickel to rise sharply, reaching a high of US $13995 / ton, a recent high. Subsequently, the pressure Boll line track 14000 US dollars / ton mark fell back, 13860 U.S. dollars / ton short-term consolidation is still difficult to stop the downward trend, fell below 13600 U.S. dollars / ton position temporary narrow shock adjustment, into the European period, Lenny showed a downward trend again, the lowest reached 13510 U.S. dollars / ton before hitting the bottom to rise. In the evening, Lunni quickly stood at US $13600 / ton following the rebound in Shanghai Nickel, and then continued to repair it, finally closing at US $13700. Lun Nickel went up yesterday morning, hitting a recent high, but it fell sharply after the short positions at Wansi pass were suppressed, and it was still repaired to 13700 US dollars / ton in late trading, with the trend of deep "V" recorded during the day. Lunni today will be shock consolidation as the adjustment direction, the lower 10 / 20 moving average is about to cross to form short-term support, waiting for the center of gravity to move up, choose the opportunity to test 14000 US dollars / ton resistance again.

Shanghai Nickel opened at 108400 yuan / ton last night, showing a concussive upward trend to repair the larger decline in the day. After the opening, the short sellers stopped their profits and reduced their positions, and Shanghai Nickel soon stood above 109000 yuan / tonne. After the bulls' confidence was restored, the positions were gradually increased so that Shanghai Nickel recovered its five-day moving average of 109450 yuan / tonne. The short-selling force continued to weaken in late trading. Shanghai Nickel briefly reached 110070 yuan / ton and then fell back, and finally closed at 109790 yuan / ton, up 1050 yuan / ton, or 0.97%. The trading volume was 335000 lots, and the position decreased by 2962 lots to 135000 lots. Technical aspects are still many, MACD red column continuous amplification, today continue to repair the center of gravity to the 110000 mark as the direction, after consolidation to test the upper resistance.

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