LME copper continued to surge in early last week. The price on Tuesday broke the previous high and rushed to around 3300 in one fell swoop. However, the uptrend failed to continue. The resistance of 3300 integer barrier pushed the price out of the high and broke below the previous trading range on Friday. . The technical level of the top 3177 in the previous period brought support to the futures price, which was lower than the final price. The fall in price last week caused some damage to the previous uptrend pattern, but it did not affect the upward trend. If the period price stabilized at 3177, the outlook may still rise. Due to the high price pressure on the futures prices, but the rise in forward contracts has not caused much price fall for the futures price. Therefore, the oscillation pattern of copper futures will continue to continue. It is not ruled out that it will continue to record new heights, but this new high does not represent The period price will have a strong upward trend. Corresponding to the LME copper futures, Shanghai copper also maintained a high level of oscillation, and the price was also hitting a new high last week. However, as the cumulative increase in futures prices was too large, the upward momentum was insufficient. Although a large number of speculative shorts in the previous period have already left the market, they have not acted decisively to make more moves and weaker momentum. Last week, LAU maintained its previous uptrend, breaking the previous high 1988, hitting a record high and refreshing its highs for two consecutive trading days. However, futures prices also fell lower on the downside of other metals on Friday, with large intraday losses. The disk pulled back most of the losses and closed above the previous highs. The period of aluminum gains are good and there is an accelerating trend. However, with the upward movement of futures prices, especially after the period price breaks through the integer point of 2000, the oscillations will be significantly aggravated and the high pressure will increase. On the whole, L&A aluminum has a good upward trend, and the bottom lift rate is accelerating, and the market outlook will continue to rise. However, aluminum has always been a slow upward trend. After a certain rate of increase, it will inevitably produce adjustments. Therefore, the short-term aluminum will still maintain this pattern, and the unilateral rise will not occur. In the previous period, Shanghai Aluminum has maintained a weaker upward trend. Despite the record high LME copper futures, Shanghai Aluminum did not perform well. However, last week's Shanghai aluminum trend actually cheered the bulls. The price rose by 400 points on Wednesday, and the high price oscillations kept the Shanghai aluminum on a high level Thursday. As LME aluminum still maintains its oscillation, it is expected that the Shanghai aluminum market will continue to rise. However, domestic inventory pressure that has not been resolved will continue to exert pressure on the upward movement of the price. (Great Wall Albert Lee / Wenhua Finance)
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