[SMM Nickel Morning News] Lunni opened today at the 10 / 40 moving average crossing to follow up on its support.

SMM, 23 April:

Lunni opened at $12200 / ton yesterday and briefly fluctuated. Lunni opened under the influence of Shanghai nickel diving, piercing the 40-day moving average and 10-day moving average support, with a minimum bottom of $11795 / tonne. After recording a V-shaped reversal, it returned to the vicinity of $11850 / tonne, and the horizontal plate was concussed between the 40-day / 10-day moving average. In the afternoon, following the strength of Shanghai Nickel to break through the daily moving average, the 60-day moving average rose by $12225 / ton, with a slight drop under pressure, and fluctuated slightly around the daily average of $11950 / ton at the end of the day, closing down $11940 / ton, down $220 / ton, or 1.81%. Daily turnover decreased by 1072 hands to 6293 hands, while position increased by 2049 hands to 221000 hands. Lunni fell for two consecutive days and recorded a long shadow line yesterday, but the center of gravity of the K-column is still between the 40-day / 60-day moving average. Lunni, which opened at $11910 a tonne today, is focused on whether it will continue to be effectively supported by the 10 / 40 moving average below.

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