SMM7 March 27:
During the day, the 2009 contract for Shanghai lead opened at 15030 yuan / ton. In early trading, Shanghai lead, boosted by the general rise of non-ferrous metals, fluctuated upward away from the daily moving average, reaching a high of 15260 yuan / ton in the afternoon, the bulls made a profit and reduced their positions, and Shanghai lead gave up some of its gains, closing at 15160 yuan / ton, up 1.24%. The position decreased by 235 to 22852, and the trading volume increased by 3155 to 33631. Shanghai lead closed on the Changyang line, most of the k-line entities stood above the 10-day moving average, the 5-day moving average showed signs that it was about to cross the 10-day moving average, the KDJ index turned to upward exposure, and the technical side showed a trend of idling, but the bulls left the market at a high level, risk aversion was obvious, and the upward pressure on Shanghai lead still existed. Fundamentally, the social inventory of lead ingots has declined, the supply of goods in some areas is tight, and the consumer demand in the lower reaches has picked up somewhat, but the peak consumption season has not yet arrived. Shanghai lead is expected to remain volatile in the short term. At night, we should pay attention to whether Shanghai lead can stabilize its 5-day moving average and 10-day moving average.
