The market is in a stalemate again, and Shanghai copper maintains range-bound volatility

In the external market, London copper opened at 6890 US dollars / ton, fell slightly at the beginning of the session, tested down 6877.
5 US dollars / ton and then ran along the 6885 US dollars / ton line
.
At noon, it rose to 6902 yuan / ton and was blocked from falling back, and the dollar fell
sharply after entering European time.
London copper's decline ended and it recovered at $6876/mt
.
LME copper stocks ended a recent streak of increases, falling by 2,752 tonnes, boosting copper prices to climb upwards and away from the daily moving average
.
Until it touched a high of 6959 US dollars / ton, the upward momentum was insufficient and fell
.

In terms of the market, the Shanghai copper range fluctuated, the delivery source flowed into the market, the source of goods increased, the price of the holders retreated, the morning market quotation discount 50 yuan / ton ~ flat water, lack of attention, some holders in order to seek the transaction took the lead in lowering the quotation shipment, flat water copper took the lead in opening the downward trend, since the discount of 60 yuan / ton began to slide all the way to the discount of 90 yuan / ton, the noon close has smelled a discount of 100 yuan / ton, good copper then adjusted to a discount of 30-20 yuan / ton, the end of the afternoon market has smelled copper sticker to 40 yuan / ton, Wet copper is expanded to about 140 yuan / ton, and the downward expansion is limited
.
The downstream continues to maintain rigid demand, traders' long-term transactions have basically come to an end, market activity has declined, and the increase in supply has inevitably expanded the discount
.
In the afternoon session, some traders received goods at a low price, and although there were some transactions, it was difficult to form a trend downward expansion, and the activity was general.

During the day, the nonferrous sector outflowed 187 million, of which the Shanghai copper index outflow was 57.
9 million.

The main force of Shanghai copper as a whole oscillates downward along the daily moving average
.
Long and short withdrew one after another, trading volume decreased again, and the market fell into a stalemate again
.
From a technical point of view, at present, Shanghai copper stands at the 20-day moving average, trapped in the 60-day moving average, 51500 yuan / ton first-line pressure still exists, the external strong and internal weak situation makes Shanghai copper overnight or sprint test to break through the 51500 yuan / ton first-line pressure level, pay attention to the external trend guidance
.