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データ基準日: 2026-10-07 · 決済基準: 取引所最終日次決済価格

CN=F (CN=F) Deep Dive | Bearish on 13751 Break | 2026-10-08

CN=F (CN=F) carries a bearish bias with an invalidation level at 13895. The instrument is trading below its 20-day moving average and has lost 5.75% over the past month, reflecting persistent selling pressure. Recent price action shows a failure to hold above the 13849 pivot, with Asia session prices slipping further to 13816. Fundamentally, the market faces headwinds from elevated inventory levels relative to the five-year average, suggesting a supply surplus that is weighing on prices. Positioning data indicates a lack of aggressive long accumulation, while cross-asset ratios show copper underperforming gold, signaling weak industrial demand expectations. The technical structure points to further downside if the 13751 support fails, targeting the 52-week lows. Investors should remain cautious and look for short opportunities on rallies, provided the invalidation level is not breached.