Copper prices run at the intersection of moving averages The height of the rebound needs to be viewed with caution

In the external market, the Asian market London copper oscillation rose slightly, of which the 3-month LME copper reported 6894 US dollars / ton, up 0.
15% per day, still running
at the intersection of moving averages.
In terms of positions, on April 16, the position of London copper was 322,000, an increase of 1,791 lots per day, and the increase in copper oscillation showed that the popularity of the copper market rose
after the rise in copper prices.

On the macro front, the Asian dollar index continued to fall under pressure and is now trading around 89.
3, trading below the moving average group as tensions in Syria slowed
.
In addition, data from the National Bureau of Statistics shows that GDP in the first quarter of this year increased by 6.
8% year-on-year, 1.
4% month-on-month, lower than expected 1.
5%, but for industrial products, it is more necessary to pay attention to the year-on-year growth rate of industrial added value above designated size and fixed asset investment and other data, of which the added value of industries above designated size in March only increased by 6% year-on-year, lower than the expected 6.
3%, and the added value of industries above designated size from January to March was 6.
8% year-on-year, lower than the expected 6.
9% and the previous value of 7.
2%.
From January to March, urban fixed asset investment was 7.
5% year-on-year, worse than the expected 7.
7% and the previous value of 7.
9%.

On the industry front, Polymetal International said it swapped its taruddin gold deposit in Russia for 85 percent of Rostec's copper-gold assets
in the eastern region of Tarudin, Kazakhstan.

In terms of the market, on April 17, Shanghai electrolytic copper spot traded at 190 yuan / ton - 250 yuan / ton for the monthly contract, and the transaction price of flat water copper was 50870 yuan / ton - 50960 yuan / ton
.
Holders continued the previous day's high premium pattern quotation positive, premium 210-250 yuan / ton, but the transaction is difficult, the market is afraid of heights, and the willingness of holders to exchange cash is strong, the quotation is quickly lowered to 200-240 yuan / ton, the transaction has improved, the market supply is more, the holder again took the initiative to lower the quotation premium 190-230 yuan / ton to buy orders has increased
significantly.
After eleven o'clock, the plate continued to rise slightly, and flat water copper remained stable
.
Intraday downstream fear of heights to maintain rigid demand, the market in the rebound pattern and high water situation, the willingness to cash in the high is strengthened, the quotation is difficult to hold for a long time, the tug of war situation may be more obvious
.

During the day, the Shanghai copper 1806 contract oscillated slightly to 50820 yuan / ton, as the US dollar index fell, driving the metal market up
.
But mixed first-quarter economic data from China halted the rebound in copper prices
.
At present, copper prices are located at the intersection of moving averages, and Sino-US trade disputes have been repeated from time to time, and investors still need to be cautious
in operation.
In terms of operation, it is recommended that the Shanghai copper 1806 contract can be sold high and low between 50500-51500 yuan / ton, and the stop loss is 350 yuan / ton
each.