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February 21 Shanghai copper morning review

 Last Update: 2022-12-04
 Source: Internet
 Author: User

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Overnight, the main 1704 contract of Shanghai copper opened at 48870 yuan / ton
.
At the beginning of the session, a small fluctuation near the daily moving average sought a breakthrough, a low of 48,750 yuan / ton, and then led by the rise in the external market to increase long positions, Shanghai copper probe high 49240 yuan / ton, closed at 49150 yuan / ton, up 730 yuan / ton, trading volume decreased by 203,000 lots to 119366 lots, and the position increased by 2474 lots to 233142 lots
.
Overnight, Shanghai copper jumped above the 5-day moving average, and the moving average group on the whole line station had strong support below, and it is expected that today's operating range is 48600~49200 yuan / ton
.

Shanghai copper

Overnight, London copper opened at 5977.
5 US dollars / ton
.
During the Asian session, London copper extended the daily average after a slight rise around 5990 US dollars / ton around a narrow range, in the afternoon, as Freeport announced that its Indonesian subsidiary has begun to lay off employees, about 10% of foreign employees have been laid off on Friday, this week will cut more contract workers, bulls are encouraged, London copper broke through the integer mark upward, the 5-day moving average was blocked from falling, copper prices in the European session continued the consolidation pattern above the daily moving average, some bears closed positions in the evening, London copper fully impacted the upper 5-day moving average, and recorded a high of $6105/ton, closing at $6070/ton, up $100/ton, with a volume of 2818 lots to 11889 lots, and a position of 1825 lots to 325480 lots
.
Overnight, the center of gravity of London copper is steadily rising, and the supply-side problem has always supported the high operation of copper prices, and it is expected that today's operating range is 5980~6100 US dollars / ton
.

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