Continuous plastic narrow finishing Beware of technical pullbacks

News: Shenhua coal chemical industry Shenhua Baotou linear intraday bidding volume of 699 tons, the previous day's bidding volume of 543 tons, intraday trading volume of 80 tons, the previous day's trading volume of 543 tons
.
Shenhua low-pressure intraday bidding volume was 165.
7 tons, the previous day's bidding volume was 165.
7 tons, the intraday trading volume was 128 tons, and the previous day's trading volume was 0 tons
.
Yulin High Pressure intraday bidding volume was 82.
175 tons, the previous day's bidding volume was 82.
18 tons, the trading volume within the day was 20 tons, and the previous day's trading volume was 0 tons
.
Xinjiang high-pressure intraday bidding volume is 50 tons, the previous day's bidding volume is 50 tons, intraday trading volume is 0 tons, and the previous day's trading volume is 20 tons

The two oil stocks were 720,000 tons (the previous day's revised inventory was 740,000 tons), down 20,000 tons
from the previous day.

Spot market: The price trend of the domestic polyethylene market is mixed
.
The sales price of the main region is adjusted, 50-100 yuan / ton, the market offer is cautious, and the wait-and-see attitude
is more.
As of the noon close, the fluctuation range in North China was 50-100 yuan / ton, the East China region fell by 50-100 yuan / ton, and the South China region was 50 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 306 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 220216 lots, +4470 lots, short positions are 212937 lots, +3249 lots, and the net position is 7279 lots, net long increases
.

Summary: Recently, crude oil has maintained a high volatility pattern, forming a certain support
for chemicals.
Fundamentally, there are still many PE devices in China under maintenance recently, and the apparent consumption of PE and downstream pipe production in May have increased, indicating that the downstream rigid demand is better, port inventories are still maintained at a historical low area, and the two barrels of oil and petrochemical inventories are also lower than the same period last year, showing that the sales pressure of production enterprises is not large, and these factors are expected to have some support
for prices.
However, after continuous rises, there is an overbought phenomenon in the short term, and investors should guard against a technical correction
in the process of rising.
In terms of operation, investors can reduce their holdings when they rush high, and they can drop their bags for safety
.