Copper prices in a narrow range waiting for external guidance

In the external market, U.
S.
stocks plummeted, bearish sentiment was transmitted to commodities, London copper followed the fall, the morning market gap opened low at 6176.
5 US dollars / ton, at the beginning of the session London copper near the daily moving average narrow finishing, during the period touched 6186 US dollars / ton, short positions increased, London copper center of gravity slowly declined, and then below the daily moving average along the 6146 US dollars / ton narrow finishing
。 In the afternoon, London copper around the daily moving average oscillation repeatedly, the amplitude gradually expanded, close to 30 US dollars / ton, European session, London copper in a large number of short into the market fell rapidly, lost 6100 US dollars / ton mark to 6091.
5 US dollars / ton, low short positions to reduce positions, recovered the decline in the European session, back to near the daily moving average
.
As of 18:10, London copper was trading at $6135/ton
.

In terms of the market, the financial commodity market is green, Shanghai copper gap low open fell a thousand yuan, again fell below the 50,000 mark, the next month the spread continued to narrow the trend, the spread concentrated at 60 ~ 70 yuan / ton, the import window is closed, the loss is 600 ~ 700 yuan / ton, the holder firmly raises the willingness to lift water, the morning market holder quotes a discount of 10 yuan ton ~ 20 yuan of premium, in the trader leads the tide of receipt, the flat water copper of the discount is soon difficult to find, the holder raises the quotation, flat water copper ~ 10 yuan / ton, Good copper raised to 30~40 yuan / ton
.
Downstream in the plate fell sharply, the willingness to enter the market replenishment greatly improved, active buying increased significantly, the second trading session, flat water copper has been raised to 20 yuan / ton, good copper quotation premium 40 ~ 50 yuan / ton, wet copper followed suit, steadily rising to 60 yuan / ton ~ discount 30 yuan / ton
.
Macro bearish factors are still the same, copper prices under pressure to decline, but spot in the autumn October expectations are still strong, only 2 trading days from delivery, the next month inverted basis continued to correct the pattern, pay attention to import profit and loss performance, if imports continue to lose, spot or will continue to show a rising pattern
.

The Shanghai Composite Index closed down more than 5% during the day, thousands of stocks fell to the limit, bearish sentiment was transmitted to commodities, and the Shanghai Copper Index had an outflow of 340 million yuan, ranking first
in the non-ferrous sector outflow funds.
During the day, the main force of Shanghai copper fell below the 50,000 yuan / ton mark, and lost the 10-day moving average support, MACD red energy column narrowed, KDJ opening expanded, pay attention to the performance of long and short positions, wait for external guidance, test whether Shanghai copper can regain the 50,000 yuan integer mark
.