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The main 1807 contract of Shanghai copper opened at 51160 yuan / ton, and the first line of 51130 yuan / ton fluctuated at the beginning of the session
.
After the copper price climbed upward, the pressure on the first line of 51350 yuan / ton was obvious
.
After touching the high of 51360 yuan / ton, it slowly declined, and the decline continued at the end of the day, closing at 51260 yuan / ton
.
Overnight, U.
S.
Treasury yields reached new highs, and the overall center of gravity of copper prices rose
.
From a technical point of view, London copper is currently trapped between the moving averages, and the lower 40-day moving average provides some support, and KDJ tends to expand
upward.
Recently, China's economic policy favorable expectations to provide a basis for the rebound of bulk industrial products, superimposed on some varieties of long-headed theme speculation, promote the rise and fall of nonferrous futures, pay attention to the recent domestic commodity market due to the lack of deliverable quantity caused by soft forced positions, such themes also attract funds to fuel the waves, short-term market sentiment changes amplify fluctuations, in the face of the domestic policy window period and the traditional peak season of industrial products in the second quarter, the judgment of non-ferrous metals as a whole to maintain the shock recovery in the second quarter, the operation is recommended to be bullish thinking.
In the near future
, we pay attention to the impact of policy and funds on the market.
Driven by the recovery of the external market, Shanghai copper performance slightly upward to stand at the 51,000 yuan mark, Sino-US trade negotiations are expected to make progress, fundamental support is temporarily stable, technical no obvious resistance, it is expected that Shanghai copper will continue to consolidate in a narrow range today
.
