The front-month lead agreement on a Shanghai Futures Exchange kicked off with a crash over a “golden week” holiday final week. Closing good above prior insurgency on Friday before a vacation, it was off to a races behind to work on Monday. Trading adult to 15,930 yuan per tonne, a agreement was during a many costly in 4 years. Though overbought on a RSI, movement is during a many bullish ever, as is a MACD, confirming a prior certain golden cranky on a 50- and 200-day relocating averages. Volume is good and open seductiveness soaring, that lead one to design serve rallies for during slightest another month. The subsequent stop is seen during 16,200 to 16,500 yuan.
Nicole Elliott is a technical analyst