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On Wednesday, the main 1811 contract of Shanghai copper opened at 50270 yuan / ton in the morning, and before the afternoon of the Asian market, copper prices sorted
out in a narrow range along the daily moving average.
In the afternoon, the US dollar index strengthened to 95.
246, copper prices fell rapidly to the low of the day of 50030 yuan / ton, fortunately the low short profit exited, copper prices recovered all the losses of the day, re-stood above the daily moving average, touched 50350 yuan / ton, the end of the copper price above the daily moving average narrow range, closed at 50290 yuan / ton, down 220 yuan / ton, down 0.
44%.
In terms of external trading, London copper opened at 6230 US dollars / ton in the morning, and at the beginning of the session, London copper was sorted out in a narrow range along the daily moving average, with a volatility of only more than 10 US dollars / ton, and then the US dollar index continued to rise, until the US dollar strengthened to 95.
246 in the afternoon, and the daily average under pressure gradually declined, touching the intraday low of 6182 US dollars / ton
at noon.
In the afternoon, the dollar index rushed back down, and London copper rose straight above the daily moving average, fluctuating
in a wide range along the daily average of $6200/ton.
During the European session, China announced that from January to September 2018, China's domestic investors made a total of 4,597 non-financial direct investments in 4,597 overseas enterprises in 155 countries and regions around the world, with a cumulative investment of US$82.
02 billion, a year-on-year increase of 5.
1%, foreign investment cooperation maintained steady and healthy development, speculative confidence picked up, while the US dollar continued to fall, close to the 95 mark, helping base metals to rise sharply, London copper from a low of 6188 US dollars / ton straight up to 6276 US dollars / ton.
The short-term gain reached 1.
4%.
In the market, Shanghai copper continued to come under pressure, and copper prices fluctuated around 50,200 yuan / ton
.
Shanghai inventories continue to increase, market buying is still weak, the concentration of dumpers is high, the morning holders continued the previous afternoon's quotations, has been fully discounted and opened the downward mode, good copper performance led the decline
.
Downstream waiting for the dip below 50,000 to buy, the market selling for cash is slightly urgent, and the transaction after delivery shows a gradual decline
.
In the afternoon, the copper plate first fell and then rose, and the holders did not sell goods at a low price with a high concentration as in the morning, and the market temporarily remained stable, but the receiving force was still weak
.
During the day, the main contract of Shanghai copper closed negative entity fell below the 10-day moving average, directly under pressure on the 5-day average, 10-day moving average, and then closer to the middle orbit of the Bollinger track, MACD red energy column narrowed again, KDJ opening downward, but the European session London copper has taken the lead in showing a strong upward performance, Shanghai copper or will hold the 50,000 yuan / ton mark, boosting the confidence
of long positions.
