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On Wednesday morning, Shanghai aluminum opened at 12985 yuan / ton, early early entry of bulls a large number of closed exit, Shanghai aluminum fell slightly to the bottom of 12900 yuan / ton, then long and short slowly increased positions, aluminum prices around the daily moving average sorted, above the pressure of 4 hours K line chart in the 60-day line pressure is difficult to form an effective breakthrough, the second half of the afternoon bulls continue to perform positive, bears obviously lack of confidence, have left the market, aluminum prices broke through the 10,000 integer mark, once again forced the bears to leave the market at the end of the session a large number of stop-loss, Shanghai aluminum once touched 13050 yuan / ton, Closed at 13040 yuan / ton
.
Driven by the overall sentiment of commodities, Shanghai aluminum rose for two consecutive days, and many early entry bears were miserable, but the spot discount expanded, and faced with the downstream holiday, the fundamentals were not enough to support Shanghai aluminum to rise so sharply, be wary of the bears counterattack
.
In terms of the external market, Lun aluminum opened at 1744 US dollars / ton in the morning, and after a slight upward movement at the beginning of the session, it fluctuated in a narrow range at 1747 US dollars / ton line, driven by domestic Shanghai aluminum in the afternoon, Lun aluminum rose to touch 1753.
5 US dollars / ton, entering the European trading session, Lun aluminum performance is weak, the center of gravity of the transaction slowly shifted, continuous piercing the daily average to try to probe down, as of 17:31, Lun aluminum 1747 US dollars / ton, KDJ line J line has broken 100, in a serious oversold range, Lun aluminum has been six consecutive Yang, the upper Bollinger track has touched, Continue to break to the upside or will be blocked, and it is expected that Lun Aluminum will continue to narrow range in
the short term.
On the macro front, boosted by the National Development and Reform Commission's remarks on "de-capacity will expand", the commodity market was widely red during the day, and copper and aluminum prices also rose
.
However, there is moving average support below the dollar, and it is also supported by its own fundamentals, which is expected to still support the dollar to remain high, thereby limiting the rebound height
of commodities such as copper and aluminum.
The intraday market focused on US President-elect Trump's press conference, paying close attention to Trump's description of fiscal stimulus and trade policies, which may increase the market's cautiousness
.
In the market, intraday aluminum rose 260 yuan / ton from the previous day, and the high level fluctuated
during the afternoon trading session.
Shanghai transaction concentration is 12770-12780 yuan / ton, for the month discount 70-60 yuan / ton, Wuxi transaction concentration 12760-12770 yuan / ton, Hangzhou transaction concentration 12750-12770 yuan / ton
.
Holders are actively shipping at high prices, spot discounts for the current month are expanding, the price difference in the following month is expanded to about 70 yuan / ton, there is a profit margin for buying cash during the selling period, middlemen are more willing to receive goods, downstream enterprises are mainly purchasing on demand, a small number of high wait-and-see, the overall transaction is good
.
In the late afternoon, aluminum rose slightly in the month, the holder sold at a high price, adjusted the price with the market, the quotation was as high as 12840 yuan / ton, in terms of transactions, the early afternoon transaction was 12770-12780 yuan / ton, and the quotation was adjusted with the price, the discount narrowed, and the willingness of middlemen to receive goods weakened
.
On the plate, Shanghai aluminum is still facing a strong resistance level of 13,000 above, and the space for continued rebound is limited, paying attention to the overall changes in the market and waiting for a suitable high short selling opportunity
.
