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Copper market afternoon comment: the United States small non-farm is lower than market expectations, overnight London copper correction closed down $25, the OECD lowered next year's global economic growth forecast, the speed of inventory dematerialization may slow down, today's copper is down
.
Overnight, London copper once fell back to the 5-day moving average and rebounded to close the doji, closing at $7675, and U.
S.
copper opened
slightly lower today.
Shanghai copper opened low and closed high at night to close the small white line, basically closed at yesterday's closing price, closed at 57120, Shanghai copper trading positions fell slightly, the market wait-and-see sentiment rose
.
The technical pattern of Shanghai copper is still good, and it is still possible to rise again in the medium term after short-term adjustment
.
Shanghai copper upper pressure 58000, lower support 53000
.
Today's international copper premium expanded to 397 points compared with Shanghai copper, and the internal trend was weaker than the external market
.
Recently, the financial market is expected to adopt more economic stimulus policies for major economies such as the United States, foreign media reported that the bipartisan group of the US Senate will announce an economic stimulus plan of more than $900 billion, which is a favorable support for the price of a large range of assets, and the reality of the traditional consumption off-season with colored fundamentals is diluted by optimistic future economic growth expectations, after some incremental funds poured into the "pro-cyclical" varieties led by copper and aluminum, and triggered short stop losses to expand gains.
Short-term colored short stop loss driven by the expansion of the rise needs to be sorted out and digested, but the supply and demand expectations improve and incremental funds are forced short or there are still expectations, the trend is not overestimated on copper and aluminum, and the short-term maintains more ideas
.