A brief comment on the PE market of China Plastics

2022-08-08
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On October 10, China Plastics warehouse receipt PE market brief comment

I. brief comment on linear warehouse receipt:

today, the linear warehouse receipt opened high and went low as a whole. It was suppressed to low at the high opening, and was accepted. The index gradually rebounded, fluctuated in the mid and late trading range, and there was no obvious breakthrough. The final warehouse receipt index closed at 1283pbt. The use of electric light sources is mainly concentrated in the lamp cap of energy-saving lamps 31 points, down 1.01 points from the previous trading day. On the daily K-line chart, close the opening bareheaded short negative line, the trading center of gravity moves up slightly, and the entity moves up to above the 5-day moving average, intersecting with the 20 day moving average. Both volumes were basically unchanged from the previous trading day

ll0612 today, the buyer and the seller have equal power. They are pushed by the buyer at the low end by the low temperature area, but there are still shortcomings in measurement. At the high end, they are suppressed by the seller, and continue to hover between the peak and the bottom, closing down in a narrow range at the end of the day. Both volumes increased slightly compared with the previous trading day

II. Brief comment on HDPE resin warehouse receipts:

HDPE resin warehouse receipts opened low and went low as a whole. The intraday index continued to fluctuate and decline, and the mid session trend was basically stable. At the end of the session, it fell again to 966.29 points, down 3.76 points from the previous trading day. On the daily K-line chart of the index, a short negative line was closed, and the 5-day moving average showed a downward trend. Generally speaking, the volume of transactions is large, and the order volume is basically flat

similar to the market trend, hd0612 opened low and went low, with extreme drop in the late market. Close the long negative line on the daily K line, the upper shadow line intersects the 5-day moving average, and the 5-day moving average intersects the 10-day moving average

III. comprehensive analysis to achieve historical storage:

the upstream is relatively stable, and WTI crude oil hovers around $60. At the same time, in terms of spot goods, local markets are also dominated by stability, with some market prices rising. To sum up, it is expected that in the near future, China Plastics PE warehouse receipts will gradually tend to consolidate upward

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

source of information: China plastics trading

note: the source of this reprint is indicated. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

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