SMM, July 29th:
The Shanghai tin 2010 contract opened at 148710 yuan / ton yesterday. After the opening, the short sellers actively entered the market, and the Shanghai tin jumped sharply, the lowest point in the day was 145650 yuan / ton. After hitting the bottom, there was a pullback and fluctuated upward under the influence of long entry. In the morning, the tin opened at 149130 yuan / ton. After opening, the bulls continued the evening momentum to enter the market, fluctuated up to the intraday high of 150830 yuan / ton, and began to wobble downwards under the high pressure of Shanghai tin. After a brief horizontal concussion of 148000 yuan / ton, it continued to decline in late trading, closing at 147570 yuan / ton, down 25836 yuan / ton, down 0.40%, 48747 hands, 25836 positions, an increase of 3050 hands, negative, and the physical part was above all moving lines. It is estimated that the lower support level is located near 145500 yuan / ton at the lower end of the shadow line.
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