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ReturnPrices moved in narrow ranges and closed mixed (March 24-30,2007)
Author：
admin
PublishDate：
2007-03-30 17:05:00
Hit：
448
This week CCSE electronic prices moved within narrow ranges in a choppy trade. April Raw Silk closed 188180 yuan, down by 2400 yuan. Sept. Raw Silk rose by 1200 yuan to close 180080 yuan. April Dried Cocoon closed 55970 yuan, down by 3200 yuan. Sept. Dried Cocoon rose by 1100 yuan to close 54280 yuan. Front months price settled lower by the physical pressure. Surely there will be an unpeaceful period between old and new crop months for expectation for the change of supply and demand situation. The price moving in this month reflected much of the expectation of industrial participants and transition between old and new crops became the turn of price moving.
From technical view, prices faced pressure by 10-day, 20-day, 60-day moving averages. The averages, in MACD have gone below the zero lines in the indicator suggesting bearish.
In terms of sales psychology, it’s understandable for some small-sized sugar mills to undersell on a small scale in this year. However, relatively rational action of some large groups will become the mainstay for the price movement in view of their capital strength and their psychology of stabilizing market.
Daily Chat for Sept. Raw Silk
From technical view, prices faced pressure by 10-day, 20-day, 60-day moving averages. The averages, in MACD have gone below the zero lines in the indicator suggesting bearish.
In terms of sales psychology, it’s understandable for some small-sized sugar mills to undersell on a small scale in this year. However, relatively rational action of some large groups will become the mainstay for the price movement in view of their capital strength and their psychology of stabilizing market.
Daily Chat for Sept. Raw Silk
