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Brief comment on the copper market, Tuesday's Shanghai copper main contract 1907 opened at 46900 yuan / ton in the morning, the opening was low, and then affected by the external disk, the center of gravity of the disk moved up to 46970 yuan / ton around the narrow range of shock finishing
.
In the afternoon, as the dollar began to continue to decline, it once fell below the 98 mark, while the bears reduced their positions and left the market, and the copper price performance rose, until the end of the session to test 47200 yuan / ton, closing at 47170 yuan / ton, up 370 yuan / ton, or 0.
79%.
In the previous stage, market pessimism was gradually released, and Shanghai copper rebounded
.
April copper mine import data contracted, the fundamental copper concentrate supply is expected to be tight, copper price support is effective
.
However, it is worth noting that the supply and demand relationship of refined copper may change to a certain extent after the peak demand season, and domestic counter-cyclical regulation has become one of
the factors driving the rise in copper prices.
The current copper price is still in the macro pricing cycle, and it is necessary to pay attention to the Sino-US trade friction will be realized at the end of this month, and the domestic economic operation in May
.
It is expected that as the price gradually approaches the previous support level of 47,500, the upward momentum will weaken
.
Recently, it is mainly volatile, with a range of 4.
65-48,000
.
It is recommended that the interval operation is the mainstay, and it can be tested at the low, and the downstream just needs to be
stocked.
Recently, market sentiment has been greatly affected by the macro level, copper prices fell to a new low since January 2019 last night, recently because the US dollar broke the 98 mark, bringing upside opportunities to copper prices, Shanghai copper MACD green column shortened, KDJ curve crossed strengthening, waiting for external guidance, testing whether Shanghai copper can break through the 47200 yuan / ton mark
.
