A brief comment on the PE market of China Plastics

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On October 30, China Plastics warehouse receipt PE market brief comment

I. brief comment on linear warehouse receipt:

today, the overall linear warehouse receipt opened higher and lower. At the beginning of the opening, the strength of both long and short sides was equal. After a period of stable shocks, the strength of the seller gradually reflected, and the warehouse receipt index fell step by step. In the end, the warehouse receipt index closed at 1274.89 points, up 3.27 points from the previous trading day. In the K-line chart of the index day, the opening bald Yin is taken into consideration from the molecular structure: add additives with chain extenders or additives that can block PLA functional groups, and the entity moves up to the 30 day moving average. In the KDJ index, there is a sign that the K-line crosses the D-line, and whether the final breakthrough can be made depends on the strength of future buyers

similar to the market trend, ll0612 jumped high today, gradually fell after the horizontal shock in the previous session, filling the gap in the jump, and closed up in a narrow range in the late session. On the 30 minute K-line chart, three negative lines with the center of gravity of trading moving downward were received in turn, and the negative line entities increased in turn, and the selling pressure was gradually strengthened

II. Brief comment on HDPE resin warehouse receipts:

HDPE resin warehouse receipts opened higher and fell as a whole today, with a ladder like decline in the middle and rear market. The final warehouse receipt index closed at 968.85 points, up 0.04 points from the previous trading day. It closed at the bald negative line on the K-line chart of the index day, and the trading center moved up. The 5-day average was below the 10 day average. Both volumes decreased compared with the previous trading day

hd0612 fluctuated widely within the 100 point range today, and closed the empty winning line "┴" on the daily K-line chart. On the whole, the seller has a slight advantage

III. comprehensive analysis:

the slight rebound of crude oil has made the PE spot market a bright spot supported to a certain extent. At the same time, the slight price increase of some manufacturers has also brought a slight warmth to the market. The driving force of materials is greater, and the local markets have stopped the pace of decline, but there are no obvious signs of recovery stimulated by this, and businesses are still cautious. To sum up, it is expected that the China Plastics PE market will continue to consolidate in the near future

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

source of information: China plastics trading

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