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April 27 Shanghai copper morning review

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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Overnight, the Shanghai copper 1806 contract opened at 51400 yuan / ton, rose sharply at the beginning of the session, moved up away from the daily moving average, touched 51750 yuan / ton and fell slightly, and then rushed to 51790 yuan / ton
again.
After the lack of upward momentum, it showed a stepwise downward trend, testing down at 51520 yuan / ton, closing at 51520 yuan / ton at the end, and the warehouse increased by 1180 lots to 204,000 lots
.

Shanghai copper

In terms of news, U.
S.
economic data continues to perform strongly, coupled with higher U.
S.
bond yields, further boosting the dollar's interest rate hike expectations, so the dollar is likely to remain strong, and the impact on copper prices is bearish
.
However, global trade shows signs of easing and copper scrap supply concerns are renewed, which will support copper prices, so copper prices are expected to be volatile, and it is recommended that Shanghai copper new orders wait and see
.

Technically, it still stands above all moving averages, with ample support below and a downward center of gravity
.
The main force of Shanghai copper rushed back down, the lower 10-day moving average uploaded the bottom, and the upper 5-day and 60-day moving average pressure still existed
.
It is expected that the main force of Shanghai copper today is 51400~52000 yuan / ton
.
In terms of spot, today is the last trading day before tax exchange, holders may lower the premium in order to trade, it is expected that today's spot report premium of 190~250 yuan / ton
.

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