Sino-US trade sentiment paused, copper was boosted and remained high

In terms of external trading, Apanlon copper opened at 5954 US dollars / ton in the morning, and tested 5964.
5 US dollars / ton in the morning, after the opening the market gradually digested the panic caused by the Saudi Arabia attack, and the domestic social consumption and industrial data performance was bearish, some bulls took profits to close their positions, the center of gravity of copper prices quickly moved down to around 5910 US dollars / ton, during the period of 5897 US dollars / ton, and then has maintained a narrow range of shock pattern
.
Until entering the European market, copper price performance has rebounded, as of 15:00, London copper reported 5913.
5 US dollars / ton, down 0.
83%.

In the market, Sino-US relations have further eased, crude oil has soared due to the attack on Saudi oil depot facilities, leading commodities to rise, and Shanghai copper gap rose to 47,700 yuan / ton
.
On the first trading day after the holiday, which is the last trading day of the month, the 1909 contract and the 1910 contract have a back structure, and the premium quotation is guided by the plate spread, and most of the market has turned to the 1910 contract quotation, and the quotation is active
.
At present, the market is prone to rise and fall, inventory is at a low level, and the market premium before the National Day is difficult to have a significant decline space, and the high premium state will continue after the change of month
.
In the afternoon, the market has completely quoted the next month's contract, considering the Back price difference between the 1909-1910 contract, and the center of gravity of the afternoon plate rose slightly, the afternoon quotation was slightly loosened compared with the morning, and the afternoon flat water copper reported 130-liter 140 yuan / ton, good copper reported 150-liter 160 yuan / ton, and the transaction price was in the range of 47750 yuan / ton - 47830 yuan / ton
.

At present, due to the downturn in the European economic situation, Europe has restarted QE, Brexit has greater guidance for the current European situation, and the current market is expected to have a hard Brexit, which has made the market risk aversion rise again
.
At present, the London copper technical indicator is supported by multiple near-day moving averages, but it is necessary to be wary that the overall center of gravity is currently blocked by the upper Bollinger band, and the KDJ indicator has shown signs
of high resistance.
Wait for guidance from the dollar and crude oil to test whether London copper can continue to rally
on a foothold of $5900/mt.

Shanghai copper opened high in the morning to maintain stability during the day, mainly due to the impact on crude oil supply after the attack on Saudi Arabia's important oil facilities, oil prices immediately rushed to a high of $61.
2 / barrel, hitting a new high in nearly three months, coupled with the recent suspension of Sino-US trade sentiment, Shanghai copper was boosted to maintain a high level
.
Shanghai copper closed the solid long black column, supported by all moving averages below, MACD continued to close the long red column, the technical performance is positive for the copper market
.