Shanghai aluminum narrow fluctuation resistance is more obvious

External trend: today's LME market resumed trading, Lun aluminum in the drag of the pressure decline of London copper, rushed back down, 3 months London aluminum narrowed the rise to 0.
8%, at 1933 US dollars / ton, from the intraday high of 1958 US dollars / ton down 1.
28%, still barely stable above the moving average group, the technical form is stronger than other base metals, the lower support focus on 1900 US dollars / ton
.

Macro: The dollar index fell under pressure overnight, but recovered from the low point at the end of the day, cutting some of the losses, the Asian dollar index fell under pressure, now trading around 100.
2, running below the main moving average group, as the US quarterly core CPI monthly rate in March was -0.
3%, lower than the expected 0%, inflation was lower, reducing the probability of
the Fed raising interest rates.
Aluminum industry information, it is reported that the four ministries led by the National Development and Reform Commission issued a notice in April saying that in order to strictly manage and control the new production capacity of the electrolytic aluminum industry, a special action
will be carried out to clean up and rectify illegal projects in the electrolytic aluminum industry.

Spot: On April 18, Shanghai aluminum trading concentrated 14230-14280 yuan / ton, and the discount for the month was 150-130 yuan / ton
.
In the early stage of the transaction, the holders of goods shipped actively, the transaction price was concentrated 14260-17280 yuan / ton, the period of aluminum high level backward, the holders of the market views diverged, some traders sold at a high price, difficult to have a transaction, some traders with the price adjustment, the transaction price moved down to 14230-14260 yuan / ton, after the change of month, the aluminum discount did not see a significant expansion, traders hesitated, downstream wait-and-see sentiment is still strong, the overall transaction high price is suppressed
.

The Shanghai aluminum 1706 contract oscillated at 14495 yuan / ton during the day, and the current aluminum price is effectively running above the moving average group, indicating that its willingness to rise is strong, and the bulls still have the upper hand
.
It is recommended that the Shanghai aluminum 1706 contract can be backed by 14250 yuan above the dip, the entry reference is around 14400 yuan, and the target is 14800 yuan / ton
.