October 22 Shanghai copper afternoon review

China's GDP in the third quarter increased by 6.
5%
year-on-year.
GDP in the first three quarters grew by 6.
7%
year-on-year.
China's urban fixed asset investment from January to September was 5.
4% year-on-year, 5.
3% expected, and 5.
3%
in the previous month.
China's total retail sales of consumer goods in September were 9.
2% year-on-year, 9% expected, and 9%
prior.
U.
S
.
existing home sales totaled 5.
15 million annualized in September versus 5.
29 million expected, revised from 5.
34 million to 5.
33 million in the previous month.
Total U.
S.
existing home sales fell 3.
4% annualized in September, down 0.
9% expected and up 0%
in the previous month.
On Friday, China released third-quarter economic data, with GDP falling back to 6.
5, but retail sales and investment data both rebounded, beating expectations and the market was more optimistic
.

China's third-quarter economic data on Friday exceeded expectations, the dollar fell sharply overnight, and copper prices bottomed out.

After the Shanghai copper daily trading back to the 20-day moving average rose, the night high opened low and rose slightly, closing near
the 5-day moving average.
Shanghai copper trading positions slightly enlarged, the lower 50,000 points of support is strong
.
Shanghai copper short-term continuation of the volatility around 50,000 points, but technically Shanghai copper MACD top divergence and dead cross, the medium term may weaken, the future market mainly focus on the progress of
Sino-US trade negotiations.
Shanghai copper upper pressure 51000, lower support 49000
.