On Tuesday, LME base metals suffered a sharp decline on the US dollar. The three-month aluminum also fell sharply. It once fell below US$1,800/ton, and closed at 1803, down nearly 8% from 1959.50. Last week, the price hikes accumulated. The risk of falling, the strength of the U.S. dollar prompted the fund to take profits, and this wave of high diving was interpreted in the double blow of stop loss selling and technical long liquidation. But as everyone knows, price fluctuations often respond to information. Excessively, this drop almost completely wiped out the rise in the previous period, and the market's reaction to the rise in the US dollar was over-reacted. After all, China's export policy of restricting aluminum is bullish for the international market. Therefore, we expect Lonco to reorganize. Resuming the upward trend. Shanghai Aluminum, as we predicted in the previous period, is the starting point of this wave of market. It has just taken a reincarnation today. The main 503 contract opened at a stop at 15600, profit taking quickly pulled it up to over 15800, In, the long-short power was balanced. Most of the transactions in the whole day were in this range, which ended at 15830, which was 430 points lower than the previous day. Today's decline has completely released the momentum of the empty side and bottomed out. The bomb also shows that there is no much room to fall. Today's low of 15,600 can basically confirm that it is a near-term bottom. Investors can take it on a bargain.
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