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Today's Shanghai aluminum 1609 contract fell under pressure, but it bottomed out near the end of the day, showing that there is strong technical support below, and closed at 12480 yuan / ton
at the end of the day.
At present, Shanghai aluminum fell back to the intersection of the moving average, the short-term trend oscillated, facing the direction of decision, the lower support is concerned about 12300 yuan / ton
.
In terms of the external market, today's Asian Lun aluminum bottomed out, cutting some of the intraday declines, of which 3-month Lun aluminum slightly fell 0.
09% to 1641.
5 US dollars / ton, still close to the recent high (1672 US dollars / ton), but at present, Lun aluminum has risen for five consecutive weeks, short-term need to be vigilant of technical pullback, the lower support to focus on 1600 US dollars / ton
.
Macro: The dollar index fell under pressure for the fourth consecutive day overnight and is now trading around 95.
5, with resistance above the rebound focusing around
96.
5.
Overnight, Brexit leader Farage unexpectedly announced his resignation, British politics is again turbulent, and the British Chancellor hopes to win more Chinese investment
after Brexit.
This week, the market focused on the US non-farm payrolls data for June, which was expected to be more favorable for the strengthening of the US dollar index
.
In terms of market: on July 5, Shanghai traded 12770-12790 yuan / ton, and the premium for the month was 20-30 yuan / ton
.
Overnight aluminum fell sharply in the month, Shanghai holders are willing to exchange cash, active shipments, the circulation of goods is more than in the past, the second period of trading, middlemen low price replenishment willingness is positive, Shanghai sources are quickly digested by the market, downstream on-demand procurement, the overall transaction is warmer than yesterday, concentrated among
traders.
Today's Shanghai aluminum 1609 contract fell under pressure to 12480 yuan / ton, falling back to the moving average intertwined operation
.
As the short-term market gradually digested the stimulation of the bullish factors in the aluminum market, it turned to worry that the strengthening aluminum price would affect the supply-side reform process of the domestic aluminum market, making the aluminum price performance worse than other base metals
.
It is recommended that the Shanghai aluminum 1609 contract can be backed by 12,600 yuan below the sky, and the entry is concerned around 12,500 yuan, with a target of 12,300 yuan
.
