Shanghai copper may maintain a weak shock operation in the short term

In the external market, the LME copper price rushed up to $6,932 at the beginning of the March copper week this week, and then the price fell sharply to $6,713 before stabilizing, and the price fluctuated in a narrow range at the bottom, closing at $6,768.
5, down $26.
5, or 0.
39%,
during the week.

In terms of the market, the overall transaction of the spot market this week is not satisfactory, shipments are difficult, after delivery, holders have shipped, the market flow has increased, the spot copper discount state continues to expand, and the market is more sought-after copper resources
.
On Friday, the downstream wait-and-see mood remained, and middlemen continued to be bearish on spot premiums, and the enthusiasm for receiving goods was not high
.
The Shanghai-London ratio continues to be high, imported copper arrivals continue to pour into the market, due to the financial pressure of many weekends, so that there are many shipments and cash exchangers, so that the spot discount has expanded all the way, downstream transactions have not improved significantly, and the overall market trading is general
.

In terms of news, at the beginning of this week, long-term copper was pulled up by bulls, affecting the sharp rebound of copper prices in recent months, but in the later period, affected by the macroeconomic data in October was less than expected, coupled with the sharp decline of non-ferrous leading nickel, the copper market bulls fled in the second half of the week, the price fell sharply, and copper prices may maintain a weak shock operation
in the short term.

From a technical point of view, KDJ dead cross on week k, MACD will die, and the price continues to step back on the 10-week moving average after reverse; On the daily K, the MACD dead cross and the KDJ dead cross diverged downward, and the price briefly stabilized at the 53,000 yuan line, and the 60-day moving average below had strong
support.