On Thursday,Shanghai CopperThe main 1708 contract opened at 45060 yuan/ton. After the opening, the copper price fell slightly to 44960 yuan/ton, and then the copper price rose to 45360 yuan/ton twice. During the period, it fell back slightly. Finally, it closed at 45260 yuan/ton. On the Dayang line, the Shanghai futures copper rose during the day, and the upper moving average was under pressure, and the rising trend was suppressed. The short-term test tested the pressure of the 20-day moving average.

Luntong opened at US $5625/ton. After the opening, Luntong's daily moving average slowly declined. Then commodities rose collectively. Copper prices fluctuated upward, breaking all moving averages and touching as high as US $5692.5/ton. As of 15:55, Luntong reported US $5684.5/ton. Nilun copper pulled up sharply, more risk events, beware of high fall. Concerned about the European Central Bank's interest rate resolution and former FBI Director Comey will testify to the Senate Committee on the investigation of Russia or its interference in the US election.

U.S. bond prices fell on Wednesday after former Federal Bureau of Investigation (FBI) Director Comey released written testimony on the FBI's investigation into Russia's alleged interference in last year's U.S. presidential election. Investors believed the testimony was not as serious as they originally expected. The European Central Bank is widely expected to keep its policy unchanged at its meeting on Thursday, including a 2.3 trillion euro bond purchase plan and a commitment to keep interest rates low. However, sources told Reuters last week that the European Central Bank would abandon the term "downside risk" in its statement, thus acknowledging the improved economic outlook.

Shanghai copper continued to be weak, and the holders shipped at a high price. Due to the limited supply of available copper in the market after some large traders received the goods on the previous day, especially the willingness of the current copper to support the price was even greater, the low-price supply decreased, and the transaction was once active. However, after entering 11 o'clock, the Shanghai copper futures plate rapidly increased to nearly 200 yuan/ton, and the market supply decreased. Good copper was hard to find at noon, and downstream was mainly on demand, the late copper price trend is pessimistic, do not want to stock too much, the transaction first up and then suppressed, the main transaction to middlemen.

The main 1708 contract of Shanghai copper rebounded in shock, closing at 45260. Short-term main support 44000, bearish thinking does not change, but empty orders suggest gradually take profit, if the 44000 support is effective, then try to do more.