Stimulated by good news, aluminum prices still have room to rise in the short term

In terms of external trading, in the morning, Lun aluminum opened at 1918 US dollars / ton, the Asian market was initially boosted by the domestic market, Lun aluminum touched 1928.
5 US dollars / ton, and then fell back to the narrow range near the daily moving average, the afternoon aluminum price stepped back to 1921 US dollars / ton, the end of the day bulls and then Lalen aluminum touched 1930 US dollars / ton, into the European trading session, the dollar rose suddenly, strong back above 96 points, Lun aluminum fell rapidly, gave up part of the gains, the low touched 1916.
5 US dollars / ton, as of 18:0 0, Lun aluminum reported $1920 / ton, down $3 / ton
.
Lun aluminum has stood on the 60-day moving average, maintaining an upward trend, but the daily moving average during the European session shows strong resistance, paying attention to the domestic Shanghai aluminum trend on the traction
of Lun aluminum.

On the news front, oil prices rose for the seventh day in a row on Friday, as a reduction in the number of active rigs in the United States and improved demand data in China boosted frustrated oil prices, but oil prices still recorded the biggest decline in the same period since 1998 in the first half of this year
.
Gold prices were lower on Friday, set to record a first month of declines as major global central banks signaled that the era of easy money might be coming to an end, pushing Treasury yields higher and hurting interest-free assets
such as gold.
The greenback edged against a basket of currencies on Friday, but recorded its biggest quarterly decline in nearly seven years, as hawkish signals from major central banks outside the U.
S.
this week put further pressure
on the greenback.
LME three-month aluminium rose 0.
2 percent to close at $
1,919 a tonne.

In terms of the market, aluminum futures jumped to a high of 13980 yuan / ton before noon of the month, Shanghai trading concentrated 13840-13850 yuan / ton, the monthly discount 130-120 yuan / ton, Wuxi transaction concentration 13840-13850 yuan / ton, Hangzhou transaction concentration 13840-13860 yuan / ton
.
The circulation supply is sufficient, traders are looking for low-priced sources, downstream enterprises are afraid of heights and wait-and-see sentiment, and the overall transaction is weak
.
In the late afternoon, aluminum fluctuated upward in the month, and the holders were willing to sell, with a quotation of 13860-13900 yuan / ton, and the market was in a wait-and-see mood
.

Intraday Shanghai aluminum main force 1708 contract shock rebound, the end of the market closed at 14130, the price in the 14000 line consolidation after the higher, momentum, short-term to rise, rebound to see around 14500, light position long idea-based, intraday sharp fall can continue to take back long orders
.