Shanghai copper rush height is blocked shows that the upper pressure is still there

In terms of external trading, LME copper opened slightly higher at $5884.
5 in March, opened in a narrow range and then pulled higher, once rising to $5920 in the afternoon, after which the price fell under pressure and maintained a narrow range, and the final price closed at $5896.
5, up $19.
5, or 0.
33%.

In terms of the market, the market trading in the mainstream trading session in the morning was light, copper prices rebounded at a high level, upstream refinery maintenance period ended to resume production, domestic supply tension is expected to turn into excess expectations, holders of quotations turned back to discount, quotations are generally cautious, under the premise of weak overall consumption, downstream maintenance of lower purchasing willingness
.

In terms of news, the market continues to pay attention to foreign strike news, two copper mines in Chile are currently facing the threat of strike, and the Peruvian strike date is approaching, supporting copper prices to stop falling and recover
.
In addition, the recent bullish sentiment in commodity markets, coupled with dovish comments by the Federal Reserve overnight to hit the dollar index, helped boost the copper market
.

From the futures disk point of view, Shanghai copper rush high is blocked in the stage of the previous high, MACD dead cross, KDJ dead cross low turn, the price broke through the average pressure but closed the upper shadow, showing that the upper pressure is still there, it is expected that the short-term copper price will consolidate the 47,000 yuan integer mark support, continue to pay attention to downstream procurement
.