November 27 Copper Market Brief Review

On Tuesday, the main contract of Shanghai copper 2001 opened at 47090 yuan / ton in the morning, and then due to the Chinese and US economic and trade leaders called again, trade optimism expectations continued to heat up, and then bulls increased their positions, Shanghai copper rose to the highest point of the day 47130 yuan / ton, but because the Federal Reserve chairman expressed optimism about the US economic expectations, The US dollar index rose for 6 consecutive days to reach a high around 98.
3, which suppressed copper prices, superimposed on the market has always been worried about the demand side, Shanghai copper briefly tested the high and quickly fell back, until the end of the afternoon center of gravity moved down to around 47070 yuan / ton, the afternoon opening Shanghai copper center of gravity continued to maintain stability around 47040 yuan / ton oscillation until the close, the end of the session closed at 47070 yuan / ton, up 0%.

The news is calm, there is a lot of Sino-US trade news, and the market wait-and-see mood is strong, which has limited impact on copper prices
.
Domestic refined copper supply is still in a tight balance, Shanghai copper is less guided by the news, it is difficult to get out of the trend market in the short term, it is expected that the near future is still dominated by range shocks, the range is 4.
68-47,200, the space is less recommended to be cautious range operation, downstream wait-and-see mainly
.

At present, Shanghai copper closed negative, the upper pressure Bollinger middle rail, technical upward pressure is still under pressure, many economic data in the United States is about to be released, testing whether Shanghai copper can further stand at the 47,000 yuan / ton mark
.