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July 18 Shanghai copper afternoon review

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Last night, the overall internal and external trading showed a low opening and high trend, the bears of the main contract of Shanghai copper took the initiative to reduce their positions, and the copper price performance once again rushed up to test the 47000 mark, but failed to break through
smoothly.
In the evening, mainly due to poor US real estate data, the dollar fell slightly, and copper prices were able to rebound
.

Shanghai copper

Although last night's weaker-than-expected U.
S.
economic data stimulated the market to strengthen expectations for interest rate cuts, the economic Beige Book released yesterday also showed that the U.
S.
economy continued to maintain moderate growth, so there is still greater uncertainty about interest rate cuts, and the market still has a preference for safe-haven assets.

At present, the center of gravity of Shanghai copper has shifted to the Bollinger middle rail, and it is wary of the high level of the KDJ indicator to form a bearish dead cross
.

The slight recovery in spot prices today will aggravate the fear of heights, and market activity is expected to decline, but the sentiment of holders to maintain price support
.
It is expected that today's Shanghai copper 46400-46900 yuan / ton, spot premium 30-liter 90 yuan / ton
.

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