On Wednesday, Shanghai Aluminum’s main contract futures price rose out of the heavy volume market. In May, Shanghai Aluminum closed at 17,000 yuan, successfully breaking through the high-price zone at the end of last year. The Shanghai Aluminum Index shows that the upward movement from the end of last year should be at least equal to the upward trend of August-October last year. At that time, the volatility of that period was 2,500 yuan. Therefore, the current round of rise from the 15,500 yuan level rebounded. The market will rise back to the 18,000 yuan area in accordance with the growth rate of the same length. If you look at it conservatively, the trend of the first round of the 17500 yuan symmetry of the current rally will be expected. Last night, Alluminium closed out the red and the closing price hit a new high since 2003. Combined with the sharp fall in the US dollar index, it has shown signs of a recovery trend, which has become a driving factor in the successful upward breakout of the Shanghai Alcoa futures price today. Although we believe that the London aluminum market will continue its upward trend and may impact the 95-year high spot area, it is not optimistic about the short-term conflict between aluminum and aluminum. Today, short-term warnings have appeared on the system tracking signals. On several occasions, there has been a sharp drop in Lun Aluminum, so it may be safer to see the upswing in the London aluminum market with repeated ups and downs. Shanghai Aluminum's May futures price has been enlarged to 40,000 lots today, and there are suspicions that the short-term volume is too high. The market outlook is expected to stabilize through the consolidation of shrinkage. The operating lows continue to hold more than one, while the short-term rolling singles take the 17,500 yuan line as the take profit. Operational recommendations: hold more bullish.
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