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Overnight, the main 1806 contract of Shanghai copper opened at 50550 yuan / ton, affected by the external market at the beginning of the session, quickly pulling up, upward away from the daily moving average
.
After reaching a high of 51050 yuan / ton, the upward momentum is insufficient and shows a volatile downward trend
.
The late session amplitude narrowed, falling below the daily moving average, closing at 50,820 yuan / ton, up 330 yuan / ton, and the position increased by 1,282 lots to 244,000 lots
.
The dollar fell overnight, boosting copper prices
.
From a technical point of view, Lun copper is trapped between the moving average, standing at the 20-day moving average, and touching the 60-day moving average
upward.
The main 1806 contract of Shanghai copper stands at the 20-day moving average, with a wide space above, and KDJ tends to converge.
It is expected that the main force of Shanghai copper today is 50500~51000 yuan / ton
.
In terms of spot, the 1805 contract began to be quoted yesterday, the transaction was not good, the overnight market rose, and today may be narrowed
to a certain extent.
It is expected that today's spot premium will be 180~220 yuan / ton
.
At the Boao Economic Forum for Asia held in Hainan, the attitude of Chinese leaders and related policies played a positive role in resolving Sino-US trade frictions, and Shanghai copper once rebounded to break through the support level
of 51,000 yuan.
However, as the political crisis in Syria intensified, the market fell again, and copper prices also fell
rapidly.
On the whole, after the macro risk weakens, the shock rebound trend driven by strong demand will be the main theme
.
However, in the case of high inventories, the height of copper price rebound will be limited
.
It is expected to continue the volatile trend next week, with Shanghai copper 50,000-51,500 yuan
.
