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The copper market fluctuated
overnight.
Copper fluctuated sharply overnight, and finally stabilized and rose slightly at the 5-day moving average, opening slightly higher at $
6634 today.
Shanghai copper opened higher overnight, closed slightly higher after a sharp swing, closing above the 5-day moving average at 51770
.
Copper prices were supported by a weak US dollar, but the internal session was weaker
due to the rise in the yuan.
Shanghai copper trading positions rose slightly, and the market wait-and-see sentiment was strong
.
Shanghai copper may continue to oscillate
above 51000 in the short term.
The future market is vigilant against the development of
Sino-US relations.
Shanghai copper upper pressure 52740, lower support 48000
.
Domestic industrial enterprise profits rose sharply, which may be mainly due to the rise of PPI, but terminal demand has not improved significantly, the number of unemployed in the United States is still not optimistic, the Federal Reserve revised the policy framework, but the market reaction is not optimistic
.
Powell launched the average inflation rate as scheduled, but it was not as strong and clear as market expectations, and there were pessimistic expectations about the economy, which made the market very divided and the entire financial market more volatile
.
The copper market is still strong outside and weak inside, waiting for the copper market to give direction
.
