(For exchange and discussion only, not as a basis for investment!) Your likes + attention is the motivation for me to persevere! ）
First, the disk: (Note: Shanghai copper main 01 contract is about to change the month, so it is recommended to pay attention to the forward 02 contract)
Shanghai Copper 02 Contract Daily Chart:
Second, the message surface / fundamentals:
1. Macro: Under the rapid tightening of liquidity, the Fed has the expectation of raising interest rates;
2. Domestic: The central economic work conference is expected to stabilize growth strongly, the market expects a "tight credit" change after the central bank cuts the RRR, and macro expectations are weak.
3. Fundamentals: There is a marginal expectation of supply and demand, and the price of refined copper is weak. Before the Spring Festival, the destocking of refined copper slowed down, and there was even a cumulative expectation.
III. Concern:
1. Is the expectation of weak macro level further fermented?
2. Will the price of the Shanghai Copper 02 contract break in the area around 66160? (End)