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[SMM Nickel Morning News] the dollar index hit a two-year low and Nickel rose 1.61%.
Jul 30,2020 08:48CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 30:

 

The Federal Reserve maintained loose expectations, the dollar index continued to fall to a two-year low at night, and non-ferrous metals rose. Overnight Shanghai Nickel 10 main contract opened at 109550 yuan / ton, at the beginning of trading, Shanghai Nickel pressure 110000 mark, the center of gravity around 109800 yuan / ton narrow fluctuation. Then the short positions fell sharply, and the bulls followed up. Shanghai Nickel broke through the 110000 mark and fluctuated all the way up to 110500 yuan / ton. after short-term consolidation, the reduction of short positions at the end of the day once again led Shanghai Nickel to rise to 110740 yuan / ton. compared with the previous trading day, the settlement price rose 1240 yuan / ton, or 1.13%, the turnover was 421000, and the position increased by 11000 to 146000. Overnight, Shanghai nickel closed at the Zhongyang column, the support level under the K column is near the 5-day moving average, the trend of the Bol line is parallel upward, and the position of the upper rail position of 111500 yuan / ton is today's pressure level. Today, we will pay attention to the pressure situation of this pressure level.

Lenny opened at $13720 / tonne yesterday and fell slightly to $13640 / tonne after opening, while Shanghai Nickel recovered its decline and turned red to $13785 / tonne after the opening of trading in Shanghai. After that, Lenny fell back to the first line of $13680 / ton after being crushed by short sellers. In the afternoon, Renni gradually rose and consolidated at the US $13700 / ton line. driven by the strength of US crude oil, Lunni continued to rise after entering the European market, reaching as high as US $13820 / ton, under pressure of US $13800 / ton. Lunni's center of gravity consolidated around a narrow range of US $13770 / ton. At 22:30, Lenny broke the position again, reaching a high of US $13920 / ton and finally closing at that high. Compared with the previous trading day, the settlement price increased by US $220 / ton, or 1.61%. The trading volume was 5587 lots, and the position increased by 1568 lots to 199000 lots. Lunni closed at Xiaoyangzhu last night, shadow line down the 5-day moving average, Lunni opened at 13905 US dollars / ton today, today is concerned about whether Lunni can continue the rising market, breaking the previous high to explore the 14000 US dollars / ton mark.

 

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