Chapter 504: Will it bounce back again?
At this time, Li Xin was convinced that his eyes were not wrong, and today's opening price was sharply gapped.
The highest point of the white candle that closed last Friday, that is, the position of the closing price, is tightly pressed against the 10-day moving average and the annual lows of the past three consecutive years, and it is a situation that is about to break through these two pressure points.
But today's opening price is not only far from the 10-day moving average, but also well below the 5-day moving average.
Compared with last Friday's closing price, the opening gap fell by 1,910 yuan. At this price, Li Xin's account instantly increased by more than 38 million yuan in profits.
"Damn, what's going on?" Li Xin, who was overjoyed, couldn't guess what such a trend on the market meant for a while.
The recent trend of copper prices is really a bit demonized, the rise and fall is really a little confusing, although now the call auction has fallen sharply, but he is not sure that dozens of seconds after 9:00 o'clock, after the futures market officially opened, the price trend of futures copper will be what it will be.
As soon as the market opened today, it jumped down 1910 yuan, which is a unique phenomenon this year, that is, in the process of sharp fluctuations in futures copper prices last year and the year before last, such a situation is also very rare.
Although the rise for 4 consecutive days last week was somewhat unexpected, when the price rose to a stop near the 10-day moving average last Friday, I judged that the trend was actually the result of the resistance and resistance of the bears, and the bears did not give up their efforts to continue to suppress downward.
Now it seems that his judgment is correct, and such a low opening price this morning can only be explained by the fact that the bears deliberately suppressed the price.
Because last week, the bulls worked hard for several days to push the price up to near the 10-day moving average, reaching the key position where they were about to break through the two important pressure lines, at this time, the bulls will never gap down to sell and close the position, so as to easily give up the previous efforts to pull up the price.
Therefore, the downward plunge of 1910 yuan will not be the work of many parties, otherwise it will not make sense.
After figuring out this truth, Li Xin was very happy, but he didn't dare to be careless, because the downward gap today was too big, almost close to a drop of 2,000 yuan.
With such a big drop, as soon as the market opens dozens of seconds later, will there be a wave of rapid price rise?
Last week, when the futures price was around 55,500 yuan, many parties dared to gradually push up the price, and today's copper price fell below the integer mark of 55,000 yuan as soon as it opened.
It's not too early to rejoice, on August 13th, the price jumped low and then rose from a low of 55,410 yuan all the way to a high of 57,580 yuan, and a total of 2,080 yuan rose between the low and high points of that day.
We want to prevent a repeat of the situation like last time today.
With so many issues to consider in just a few tens of seconds, Li Xin felt that his head was a little insufficient. He has been staring at the market just now, and intends to close his position immediately after the price breaks through the 10-day moving average, and now he is facing another choice: today's price has fallen by 1,910 yuan sharply, do you want to close the position at the price in front of you? If there is a trend of opening low on August 13 and then going up quickly, then the extra 38 million yuan of profit in your account today is likely to be in vain when you close.
Before 8:59, when the call auction had not yet come out, Li Xin's mood was relatively calm.
But after the call auction jumped sharply, he had more thoughts and his heart was pounding. Before he could figure out whether to close his position at the current point, at 9:00 o'clock, futures trading began.
After the futures copper opened at a price of 54,550 yuan, there was a short second or two, and the price suddenly rose by dozens of yuan to the position of 54,600 yuan, but such a rise was just a flash in the pan, and then the price continued to fall.
Within a minute, the price fell to 54,200 yuan.
Within a second or two when the price rose by dozens of yuan after the opening, Li Xin's heart was hanging. He was afraid that the market trend would rise rapidly, so that he would not have time to make a decision on whether to close the position, and his profits would shrink significantly.
But then the price plummeted by 400 yuan within a minute, and this trend made him very experienced in trading see some signs, and his heart slowly relaxed.
As soon as the market opened today, it fell by 1910 yuan, and how happy the bears were to see such an ending, how afraid the bulls would be.
With such a big drop and insufficient available funds, the bulls may blow up as soon as the market opens this morning.
The trend of plummeting by 400 yuan in just one minute just now is likely to be the move of the long stop loss to leave the market.
The price is falling so quickly, which will further allow more longs to liquidate, and then be forced to close by futures companies.
Even if there are no liquidated bulls, in the face of such a trend, the pressure to bear in their hearts is conceivable, and many people may not be able to withstand such pressure and admit losses and leave the market.
This creates a vicious circle for bulls, where the more long positions are left with a stop loss, the lower the price will be suppressed.
For the bears, there is almost nothing to do at this time, and the profits on the account are constantly growing on the sidelines.
The strength of the bears is still significantly stronger than that of the bulls, who worked hard to pull up the results for 4 days last week, and were beaten back to their original shape by the bears this morning. It is this effect that the bears want, so that the bulls completely lose confidence and give up resistance.
After a week of painful entanglement, Li Xin now feels the joy of the price trend developing in the direction she expected and the profits increasing.
After the copper price fell to 64,200 yuan, it oscillated back and forth around this integer mark for a few minutes, starting from 9:05 a.m., and began a wave of rapid decline, and by 9:08, the price had fallen to 53,800 yuan.
This price has broken through the integer mark of 54,000 yuan.
At this time, Li Xin's hanging heart gradually relaxed, and he knew that many parties were powerless to resist.
At this time, looking at the big black line that is getting longer and longer in front of him, Li Xin has time to look back and carefully ponder the meaningful opening price of 54,550 yuan today.
The closing price of 55,160 yuan on September 8 was the lowest closing price of the year, but this morning's opening price fell below this low in one fell swoop.
Not to mention that within a few minutes after the opening, copper prices had no chance to rebound at all, but continued to fall below the integer mark of 54,000 yuan, and the price was getting lower and lower. The bears' downward pressure on prices has been revealed.
Thinking of this, Li Xin, who had a feeling of the aftermath of the catastrophe, couldn't help but secretly curse: "NMD, is this trend a joke with me? Is it necessary to play this kind of desperate game every time? Wouldn't it be good for you to press it down earlier last week, and you didn't make a move until you got the last shot, and a few people can endure this feeling of fear!"
When the price fell rapidly to the integer mark of 53,800 yuan, it was obviously supported, and the downward trend was contained.
It is not known whether the bears are profit-taking in this place, or if the bulls are starting to intervene in this place.
Since 9:08, the price has not fallen below the integer mark of 53,800 yuan, but has launched a continuous shock at a low level, with the highest price not exceeding 54,000 yuan and the lowest not falling below 53,800 yuan.
The time-sharing chart on the computer screen oscillated back and forth for nearly an hour in the space of 53,800 yuan and 54,000 yuan, which was up and down 200 points.
At 10:00 a.m., the price gradually began to decline from 53,850 yuan.
At 10:05, the price broke through the integer mark of 53,800 yuan and came to 53,770 yuan.
In the more than 50 minutes before 10:00, when the price fluctuated back and forth at a low level, Li Xin had experienced a fierce ideological struggle in his heart.
Yesterday, he had already moved the idea of closing the position, and now he is facing another choice: compared with last Friday's closing price, the current price has fallen by nearly 3,000 yuan, and the profit has increased by 60 million yuan in one day.
In the past month or so, I have missed two opportunities to leave the market on dips, and it would be a bit ridiculous to miss such an opportunity again this time.
Especially in the nearly 50 minutes of 9:08~10:00, the price has been hovering after falling to a low level of 53,800 yuan, and there is no sign of continuing to fall.
After the two sharp price drops on August 13 and September 8, there was a wave of considerable increases, that is, in those two waves of rises, the profits on my account were greatly reduced.
Today's sharp drop in prices was completely unexpected, and if it weren't for today's trend, it is likely that I would have tripped over the same stone for the second time in the same place.
The price fluctuated back and forth in more than 50 minutes and did not continue to fall, indicating that the copper price has gradually stabilized at 53,800 yuan.
If you don't take advantage of the low price to cash in your profits, and the price rises at the close, you will have to suffer from the price increase for the third time.
Just when he was in a dilemma, the price fell below 53,800 yuan.
Although the price fell below the integer mark of 53,800 yuan, the downward trend is not as rapid as when the morning opened, but it is a slow and resolute trend, the time-sharing chart on the computer screen is gradually getting lower and lower, and there is no sign of bulls intervening at a low level.