Copper prices under pressure, daily moving average finishing trend blocked to fall

In terms of the external market, the morning market London copper opened at 6026.
5 US dollars / ton, the beginning of the session London copper around the daily moving average wide oscillation, the maximum amplitude of nearly 15 US dollars / ton, mostly above the daily moving average, during the test of the intraday high of 6049 US dollars / ton was blocked to fall, before the afternoon of the Asian market, the dollar index strengthened, Lun copper fell below the daily average
。 As the Eurozone's GDP growth in the third quarter hit a four-year low and was less than expected, Italy's economic growth has stagnated, overnight the US index broke through 97 has been at a high level, in the afternoon, the center of gravity of London copper fluctuated downward, and the downward range gradually increased, during the period of 6010 US dollars / ton, temporarily held 6000 US dollars / ton integer mark
.
After the European session, it rebounded above the daily moving average, and then rushed to $6045 blocked, and as of 17:10, London copper was trading at $6030.
5 / ton
.

In the market, the US dollar index rose overnight, London copper fell below the 5-day line, Shanghai copper leaked to 49,000 yuan / ton, and copper prices fluctuated at 49,100 yuan / ton
during the day.
On the last trading day of the month, most of the downstream waited for the change of month to enter the market to buy, and after the copper fell sharply, the holders raised the price and quoted
premiums.
Morning market quotation flat water ~ premium 30 yuan / ton, suddenly raised premium made the market stop and watch, under the deadlock there are still urgent need to ship for cash holders take the initiative to lower the quotation, good copper leading down to flat water ~ premium 20 yuan / ton has a concentrated transaction, flat water copper and adjusted to discount 20 yuan / ton, the transaction has not improved, due to the lack of downstream buying, wet copper quotation to maintain a discount of 120 ~ 100 yuan / ton
.
At the end of the month, traders shipped positively, there was a lack of buying, the market trading was difficult to unfold, and supply and demand were more likely to fall into a standoff
.
However, under the sharp fall in the plate, the copper price is difficult to guarantee 49,000 yuan / ton, the price difference between the month and the next month is only 10~20 yuan range, and more than three weeks after the National Day holiday, the import ratio has been poor, the import loss has reached nearly 1,000 yuan in the first line, the inventory of the holder is gradually digesting, so tomorrow into November, the holder or will still be interested in raising the water again, but consumption is difficult to support, supply and demand may still have a period of stalemate
.

The main center of gravity of Shanghai copper shifted sharply downward during the day, pointing directly to the lower rail of the Bollinger orbit, the MACD green energy column showed an expansion trend, and the KDJ opening expanded
downward.
At present, the gap between the current month and the next month's position is only 17152 lots, entering November, pay attention to the backward movement of the main position
.
Pay attention to whether the main force of Shanghai copper can hold 49,000 yuan / ton, if it shows a break again, the gap formed around September 20 will form a huge threat to the current copper price, and the copper price may continue to fall to the platform range of 48,500 yuan / ton ~ 48,600 yuan / ton in the early stage
.