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[brief Review of Zinc in SMM period] Technical Breakthrough of Zinc in the upward period of Zengkang
Jul 29,2020 17:25CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

On the 29th of the month of SMM7:

During the day, the main force of Shanghai zinc was 2009 and the contract opened at 18355 yuan / ton. at the beginning of the zinc market, the zinc market fell slightly to around 18300 yuan / ton. with the bulls gradually increasing their positions, the zinc futures continued the trend of shock and higher in the night market, and a large number of bulls poured in in the afternoon. Zinc breakthrough high 18720 yuan / ton after a slight adjustment, but the upward trend does not change. The final closing price rose to 18695 yuan / ton, up 535 yuan / ton, or 2.95%. The trading volume increased by 10601 lots to 299000 lots, and the position increased by 15142 lots to 113000 lots. The Shanghai Zinc Index has increased its position by 15733 hands in a day, and the buying power of the bulls is relatively strong. Zinc is expected to refresh its recent high level and achieve a technical breakthrough. At the same time, based on the optimistic judgment on consumption, coupled with the difficulty of breakthrough in short-term refined zinc output, multiple positive support, it is expected that zinc will continue to be strong and oscillating in the evening.

 

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