A brief comment on the PE market of China Plastics

On September 20, China Plastics warehouse receipt PE market brief comment

affected by the sharp decline in crude oil and the general decline in spot prices, PE warehouse receipts fell sharply today

I. brief comment on linear warehouse receipts:

today's linear warehouse receipts jumped short and opened low as a whole, and closed down at the beginning of the opening. In the session, the buyer intended to open the closed down situation, which was slightly volatile, but the overall trend was basically flat. At the end of the session, the main warehouse receipts closed at the limit, and the warehouse receipt index fell 20.98 points to 1278.54 points. The short negative line was closed on the K-line chart of the index, engulfed the previous entity as scheduled, and returned to below the average for 5 days. Judging from the trading situation, the volume of transactions contracted significantly today. At the same time, many traders made profits and closed their positions, and the order volume fell sharply

ll0611 opened close to the limit, and soon closed down. There was a slight turbulence in the session, but the range was not large. At about 10 o'clock in the range, the end of the session closed at the limit, and the short negative line was closed on the daily K-line. The entity swallowed up the previous entity, and moved down to 5 days below the average. On the 30 minute K-line chart, various technical indicators fell again, hovering near the oversold area. Both quantities fell sharply

II. Brief comment on HDPE resin warehouse receipts:

today, the HDPE resin warehouse receipts opened low and went low as a whole, with a narrow range of shocks. In the late trading, the index fell 8.24 points to close at 981.20 points. The opening bare headed short negative line entity received on the daily K-line chart returned to below the average for 5 days. In terms of overall composition 1 rigid framework, both volumes were basically flat with the previous trading day

hd0611 generally opened low and went low, fluctuated widely, and closed sharply at the end of the day, with a commission ratio of -100%. The selling was strong. It closed out the opening bareheaded short negative line on the daily K line, and the entity moved down to below the average for 5 days. In terms of double volume, the transaction volume is small, and the order volume is flat

III. comprehensive analysis:

in terms of upstream information, crude oil plummeted by $2 yesterday, and this impact, 1. The spot market quotation of conventional electronic universal material testing machine continued to fall, and traders' mentality was extremely poor. At present, the price of Yangzi Petrochemical linear 7042 in Yuyao plastic city has been reduced to 12800 yuan/ton, and the price of 5000S has been reduced to 13400 yuan/ton. To sum up, at present, the trust established by bad factors is still dominant, and PE warehouse receipts still have room to continue to decline

from the implementation of the "1025" plan

(personal point of view, for reference only; based on this, enter the market at your own risk)

source of information: China plastics trading

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