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Brief review of Shanghai copper on March 1

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Today's main price of Shanghai copper first fell and then rose, and maintained volatility after the night dip, and the daily session rose slightly
.
At the end of the day, the main 2204 contract of Shanghai copper closed at 71050, up 0.
30%.

Shanghai copper

The situation of the Russian-Ukrainian conflict has not improved, and the macro is bearish, but in the absence of a significant deterioration in the international geopolitical form, it has little impact on copper
.
In terms of spot, the domestic spot premium is low, and the downstream performance is sluggish, but it is expected that the consumption season will start in March, the situation may improve, and there is a short-term upward trend in copper prices
.

Technically, the main 2204 contract KDJ indicator predicts the formation of a golden cross near the 27 axis, and there is a short-term upside possibility
.
Operationally, the price does not fluctuate much, and the upstream and downstream are still stocked on demand, and it is prudent to go long
on the dip near the 70500 support line.

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