Shanghai copper rally suspended intraday trend weak pullback

Externally: Today, Asian London copper fell under pressure for the second consecutive day, and its performance slightly resisted the decline in Shanghai copper, of which 3-month London copper fell 0.
52% to 4859 US dollars / ton, but at present, London copper effectively stabilized above the moving average group, technically still indicates that there is still room
for growth.
In the past week, London copper has mainly increased its position, indicating that bulls actively entered
the dip.

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
.

Market: Today's Shanghai electrolytic copper spot report discount 10-liter water 50 yuan / ton, flat water copper transaction price 37530-37600 yuan / ton
.
The current copper premium is stable compared with yesterday and rises
slightly as the plate dives.
The opening was slightly positive, as copper prices had pulled back
overnight.
After 10 o'clock, the copper plate fell further, making it difficult for the market to find a flat water copper supply, and the good copper premium was raised to more than
30 yuan / ton.
Around 11 o'clock, due to the narrowing of the basis of the following month, the market as a whole was further difficult to find suitable sources, and the holders showed some price support
.
A small amount of replenishment downstream during the day, the overall transaction was significantly warmer
than yesterday.

Today's Shanghai copper 1609 contract fell under pressure to 37790 yuan / ton, as copper prices continued to rise or face technical pullback pressure, short-term market long sentiment is excited, ignoring the pressure of China's poor manufacturing PMI performance in June, need to pay attention to the change
in investment sentiment.
It is recommended that the Shanghai copper 1609 contract can be sold high and low between 37500-38500 yuan, and the stop loss is 350 yuan / ton
each.