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August 3 Shanghai copper afternoon review

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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On Friday, the Shanghai copper 2009 contract closed at 51,100 yuan / ton, down 1.
39%, with a volume of 80,000 lots, and short positions increased by 5,951 lots to 125,000 lots
.
Shanghai copper trading stable position rise, affected by macro factors, the market is biased to wait and see, Shanghai copper technical form weakened significantly, there is a possibility of breaking downward, Shanghai copper probability back to around
50,000.
The future market is wary of the epidemic in the United States and there is great uncertainty
in policies.

Shanghai copper

On Friday night, copper prices continued their intraday decline, continuing to test downward, and bulls did not make obvious resistance, copper prices fell all the way down, both internal and external fell to the low level of the week
.
The decline in copper prices on Friday was mainly due to the increase in market risk aversion under geopolitical and epidemic concerns, and the US dollar index rebounded more than 100 points in the short term, putting pressure on copper prices to fall
downward.
In addition, gold prices once again tested $2,000 on Friday, a monthly increase of more than 11%, which also reflects increased risk aversion in the market
.

In terms of spot, today is the first trading day of August, the market funds are relatively sufficient, coupled with Friday's market decline more, it is expected that the spot premium price sentiment will increase
.
It is expected that today's London copper 6300-6360 US dollars / ton, Shanghai copper 50700-51100 yuan / ton
.
It is expected that today's spot premium is 50-100 yuan / ton
.

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