Continuous plastic narrow finishing short-term direction is unclear

News: Asian ethylene prices are stable and falling
.
The average price of CFR Northeast Asia ethylene was $780/ton, down $10/mt
from the previous session.
The average price of CFR Southeast Asian ethylene was 700 US dollars / ton, which was stable
from the previous trading day.

Spot market: The domestic polyethylene market atmosphere is weak, and the transaction price is mixed
.
In terms of enterprises, the linear and low-pressure opening price of the main regional sales company was reduced, and the range was around 100 yuan / ton
.
Linear futures continue the volatile trend, downstream on-demand procurement, the center of gravity of domestic material transactions continues to shift, some imported resources due to yesterday's over-fall, today there is a rebound performance, the actual transaction still needs to be negotiated
.
As of the morning close, the price in North China was 30-250 yuan / ton; East China partially fell by 50-100 yuan / ton; The South China market fell by about 50 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 1539 lots, intraday -0 lots; In the historical median zone
.
Main positions: The top 20 long positions in the main contract are 203989 lots, -8241 lots, short positions are 278355 lots, -9841 lots, and net long positions are -74366 lots, +1600 lots
.

Summary: Downstream demand generally suppresses the price of continuous plastics, but the price of LLDPE is supported
by US sanctions against Iranian chemical companies and the peak of plant maintenance.
Technically, the current L1909 contract is in the correction market after the continuous decline, in the short term, the upper moving average still puts some pressure on it, whether it can build a successful bottom, it remains to be seen
.
The indicator MACD hovers low, the green bar contracts, and the KDJ indicator also hovers
low.
Short-term direction is unknown
.
Operationally, investors can operate
in the range of 7480-7600.