Daily eye 1-24

Copper and aluminum: Last week, LME copper fell to 3,050, meaning three things: (1) The rising pattern has been maintained since the beginning of October 2004. Since the beginning of the oscillation from 2650, the track has not been destroyed. In a word, the bull trend still. (2) Market psychology: A few back and forth battles between 2980-3050, the situation is biased toward the empty side; (3) Strongly support the Shanghai copper: the recent 502 contract “strikes the market” on February 4th, at the moment. Forced warehouses are in the ascendant. LME copper futures have hit more than 31,000. Then the upward trend in the market is in full swing. Other contracts such as 503 and 504 contracts must be "fighting." The author just reminds me: To observe the speed of the 502 contract to reduce the amount of empty stocks - lighten up too quickly, then more than a single corresponding rallies. Recent operations, more than a small amount of single deposit. Although Shanghai Aluminum did not increase much last week, it had closed Xiaoyang on the 5th trading day of the week. The 503 contract has continuously pulled 7 small red bars since January 13. The performance is stable, and the price may be higher in the near term. The short-term is recommended. More than one remaining.

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