Shanghai aluminum rushed back down short-term attention to pullback demand

Asian aluminum weak downward, but its performance is still significantly resistant to the decline of other base metals, of which Shanghai aluminum closed at the close of Lun aluminum slightly fell 0.
23% to 1534.
5 US dollars / ton, the current Lun aluminum since this round of pullback low of 1475 US dollars / ton has rebounded 4.
27%, running in the interweaving of moving averages, the upper rebound resistance focuses on 1555 US dollars / ton
.

Macro: The Asian dollar index oscillated slightly higher, now trading around 94.
7, and a new round of Fed officials' speeches will kick off this week, from which investors will look for signals on when the Fed will raise interest rates in the future, and last week's dovish speech by Fed officials put pressure on the dollar index
.
Watch for the European and US services PMI performance for March tonight
.

In terms of the market: some smelters increase their shipment efforts at high prices, affected by this, the attitude of cargo holders to soften their sales attitude, the market circulation supply is more sufficient than before the holiday, the return of the Qingming long holiday, the high level of aluminum shock, the profit margin of middlemen is squeezed, the receiving stops, downstream enterprises are still in stock due to the pre-holiday stock, not eager to enter the market at a high level, and the market transaction after the holiday has not yet returned
.

Today's Shanghai aluminum 605 contract rushed back down to 11850 yuan / ton, indicating that after the short-term aluminum price continued to rise, bulls have a strong willingness to profit from the high, and they need to be wary of their technical pullback demand
in the short term.