iconOct 31, 2023 18:37
Source:SMM
Copper in Lun is lifting its focus, running between the 5-day and 40-day moving averages, and the KDJ indicator is tending to be flat with slight pressure. Although Shanghai copper closed with a long shadow, it touched the pressure position of the 60-day line. Tonight, attention should be paid to the October CPI data in the euro zone, the quarterly rate of the US third quarter labor cost index, the monthly rate of the US August FHFA house price index, and the US October consumer confidence index. If the US dollar stays around 106, the copper futures may continue to test near the pressure position. It is expected that tonight Lun copper will continue to test whether it can completely stand above 8100 US dollars/ton, and Shanghai copper will pay attention to the pressure of the 60-day moving average.

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