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September 6 Shanghai copper morning review

 Last Update: 2022-12-06
 Source: Internet
 Author: User

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Shanghai copper main force 1711 opened at 53490 yuan / ton last night, at the beginning of the day in the daily moving average around 53500 yuan / ton after a slight consolidation, see the external market opened a falling channel, bulls took profits in advance, copper prices began a falling channel, two consecutive waves fell below the ten-day moving average to 52730 yuan / ton, the end of the session slightly upward repair
.
It closed at 52,930 yuan / ton, down 550 yuan / ton, and the warehouse fell by 8,100 to 173,000 lots
.

Shanghai copper

In terms of the market, as of 2017-9-5, the spot price of SMM 1# electrolytic copper was 53290 yuan / ton, up 270 yuan / ton from the previous day, and 25 yuan / ton higher than the near-month contract.

The current dominance of the market is still the market atmosphere formed by funds, in the short term, industrial products collectively encountered rising resistance, black first fall, then nonferrous, copper currently technically does not see signs of the end of the rise, but positions and fundamentals, there is no condition for continuing to rise sharply, whether the price can rise again after the price back remains to be seen, it is recommended that the current position still do not go long, wait and see
.

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