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Today's Shanghai copper shock tested the support level, as of the close of the day, the main Shanghai copper 1908 contract closed at 47010 points (-90, -0.
19%)
.
Shanghai copper continues to fluctuate in a volatile pattern, and macro good news is gradually released, but the supply and demand of refined copper are weak in fundamentals, and the upward price is limited
to a certain extent.
On the technical side, 47,000 support still has a certain effect, there is a certain space for the medium and long-term rebound, it is expected that the recent copper price will be around the support level of shock, the G20 summit will continue to be carried out, the operation is mainly wait-and-see and cautious to try more, and the downstream can be properly stocked
.
Last night, the overall disk showed a trend of maintaining stability, and the internal and external disks faced the pressure level of the integer threshold above, and the long-short power game
.
Last night, mainly due to the US first-quarter GDP data in line with expectations, the US dollar basically held steady around 96.
2, copper prices high under pressure
.
At the macro level, Europe's economic data is less than expected, the global economic slowdown trend is still obvious, coupled with the market is cautious about the upcoming G20 summit, copper prices in the absence of clear favorable negotiation results, rushing high momentum is insufficient, basically maintained at a high level of volatility pattern
.
From a technical point of view, the KDJ indicator is about to form a dead cross signal at the high
, which weakens the price support force.
Copper prices are expected to remain volatile
today.
Spot As enterprises enter the semi-annual and monthly settlement stage, the market trading is light, and the direction of the market is not clear, the market mostly maintains a cautious wait-and-see attitude, and the market quotation is deadlocked
.
It is expected that today's Shanghai copper 46700-47200 yuan / ton, spot discount 10-liter 50 yuan / ton
.
