January 23 copper market morning review

Overnight, London copper opened at 5963 US dollars / ton, long and short game during the Asian session, London copper around the daily average of 5970 US dollars and then accompanied by a small number of long retracement, London copper daily average slowly falling, into the US session, after the Bank of England announced the Brexit white paper, the pound fell rapidly against the US dollar, pushing the dollar back to a high of 99.
849, London copper heard the news accelerated the pullback, probed as low as 5853 US dollars / ton, the lower shadow pierced the 10-day moving average, short cover to promote copper prices back up, at 5906.
5 US dollars / ton to close the long black line, Overnight, London copper extended its correction
.
It is expected that today's operating range is 5880~5950 US dollars / ton
.

This week, the London copper rushed to the pullback, hitting the $6,000 / ton mark during the session, and the decline of the dollar index undoubtedly played a major positive role, and the threat of a strike at Chile's world's largest copper mine also played a role
.
However, due to China's week-long Lunar New Year holiday, the market traded lightly, and investors quickly took profits, limiting the rally
.

In addition, the market is worried about US President Trump's populist policies, which affect the US economic outlook, and London copper is mainly running to reduce its position
.
On the first day after the holiday, the main contract of Shanghai copper or open low to around 47700 yuan / ton, but the copper futures maintained a long pattern, the 1703 contract did not fall below 47100 before, holding long positions, and the upper resistance focused on 48500 yuan / ton
.