CLP invests first **: copper price range turbulence

After the copper price fell to US$7,200 last week, it rebounded slightly to a maximum of US$7,650/ton. The weekly price was closed at US$7621/ton with Zhongyang Line, up by US$258/ton from last week. Only 74,093 hands, open interest decreased by 5,594 lots to 277,540 lots, and inventory increased to 372,300 tons. The London copper rose slightly last week, and its gain basically reached 50% of the previous Yinxian. From the overall perspective, Lun Copper is still in the triangle finishing range and there is no breakthrough. It is expected that it will continue to operate in the shock range in the near future. In the later period, we focused on the direction of breakthrough. On the eve of the Christmas holiday, the transaction was gloomy. Economic news on Friday continued to show the US economy. Personal expenses, income, and the housing market report positively, which gave a certain boost to the price of copper. However, the situation in Europe is still not optimistic: As the Italian government bond yields rise slowly, the 10-year government bond interest rate has increased from 6.79% the previous day to 7%. Therefore, it created a pattern of intertwined copper prices.

The US dollar index recovered last week and recovered to a maximum of 80.49. The minimum probe reached 79.26 on Wednesday and closed down 0.15 points to close at 79.99. Judging from the technical chart, the focus of the recent US dollar index competition is at an integer of 80 points. Only by effectively breaking through this point can the rebound continue. The US crude oil rebounded sharply last week. The lowest price reached US$99.68 in February and the highest was US$100.23. It was closed at US$99.68. From the technical chart point of view: the United States last week, crude oil Yangyang almost swallowed the previous Yinxian, this is the end of the adjustment signal, as long as the effective break through the 100 mark, the oil price hit a new high is only a matter of time.

Last week's important relevant information summary: Last Monday, the US housing price index rose to 21 in December, hitting the highest level since May 2010, and the first consecutive three months since mid-2009; the November data revised downwards. After 19 Economists surveyed earlier expected the housing market index to be 20 in December. Tuesday: The Commerce Department announced that the total number of starts for new homes in the United States in November was equivalent to 685,000 units per year, the highest level since April 2010, up 9.3% month-on-month; compared with the same period of last year, November The total number of new housing starts rose by 24.3%. The U.S. Department of Labor announced on Thursday that the number of first-time jobless claims fell by 4,000, and the seasonally adjusted number of petitioners received 364 thousand, which was the lowest since April 2008. According to Briefing. Com, economists had previously expected the number will rise to 380,000 people. Economic news: The Commerce Department announced that durable goods rose by 3.8% in November, which is higher than economists' expected 2.0% increase. Personal income and personal expenses rose by 0.1% in November. The Ministry of Commerce announced that new home construction in November rose by 1.6%, higher than the 1.3% increase in the previous month, better than expected, but still shows that the growth rate of the housing market is still slow.

Shanghai copper today's main contract opened in March compared with the previous trading day, the opening price of 55,870 yuan / ton, Shanghai copper rallied to 55,930 yuan / ton today after the flat open in early trading, almost unilateral decline in early trading, giving a This kind of weak feeling cannot be verified without the cooperation of the external disk. If the closing price stands below 55,300, the probability of the copper price continuing to decline will increase. However, the overall situation is still in the shock range. It is recommended to wait and see. Wait for a breakthrough.