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On Friday, the main force of Shanghai copper opened at 46040 yuan / ton, the beginning of the session once tested down 45920 yuan / ton, bulls slightly confident, standing on the daily average of 46000 yuan / ton after launching an offensive in the afternoon, half an hour before the close, bulls actively entered the market to increase positions, from 46100 yuan / ton around two waves rose to around 46700 yuan / ton, closed at 46690 yuan / ton, up 710 yuan / ton
.
The Shanghai Copper Index increased its position for the first time, announcing that it broke the downward channel, or triggered the bears to stampede and leave the market, or continue the
rebound inertia.
In terms of external trading, London copper opened at 5742 US dollars / ton, the Asian session basically around the daily average of 5735 US dollars narrow range of shock finishing, trading is light, in the afternoon London copper suddenly put up to break through 5800 US dollars / ton, the high broke through the upper Bollinger band, up to 5854 US dollars / ton, as of 18:01, London copper reported 5824 US dollars / ton, up 83 US dollars / ton, up 1.
45%.
The Eurozone manufacturing PMI for June released in the afternoon recorded 57.
3, better than the previous reading and expectations, indicating a stronger
recovery in the Eurozone manufacturing sector.
The overall risk sentiment of the market is quite high, and the London copper night trading may maintain a high level
.
In terms of the market, Shanghai copper rebounded, the fluctuation range during the copper period was only within 50 yuan / ton, some hedging discs were trapped, the holders were forced to maintain yesterday's discount level shipments, flat water copper and good copper only 10-20 yuan / ton price difference, conducive to good copper transactions, wet brand is also abundant, the market first appeared next month's note supply, and the current month's note price difference is not obvious, middlemen due to insufficient discount wait-and-see, downstream on-demand delivery, transaction activity decreased
compared with yesterday 。 In the afternoon, Shanghai copper continued to rise rapidly, the downstream continued to wait and see, fear of heights, the price difference between the late contracts widened, the holder continued to expand the discount to 170 to 120 yuan / ton, the market transaction was light
.
Recently, copper prices have been fluctuating in a narrow range around 45,000, with obvious support
at 44,500 yuan / ton.
The volume and price rose during the day, and the main 1708 copper price quickly broke through the early shock platform, and the later stage may launch a round of sprint 48500 rebound
.
In terms of operation, it is recommended to adjust around 46000 to adjust long, it is recommended to adjust the night trading to rely on the 46500 vicinity to go long, long short-term stop loss 46200, and mid-line target 48500
.
