Continuous plastic shock lower, short-term bearish strength weakened

News: The domestic polyethylene market is mixed
.
In terms of petrochemicals, the main petrochemical region high pressure, low pressure pipes, etc.
reduced by 100-200 yuan / ton, the rest of the fluctuations are not large, East China low pressure film due to small goods
.
The trading sentiment in the spot market is not high, and merchants ship goods to the market according to their own resources, prices rise and fall, and there are more negotiations
.
As of noon, the North China market adjusted 50-200 yuan / ton; The price in East China market was adjusted by about 100 yuan / ton; The South China market is temporarily stable
.

Raw material price: naphtha CF Japan reported 586.
62 US dollars / ton, -1.
26%; FOB Singapore is trading at $63.
29/b, -1.
17%.

ethylene CFR Northeast Asia 920 US dollars / ton, -0%; CFR Southeast Asia is trading at $835/mt, -0%.

Spot price: Southeast Asia reported $1120, -0%; Far East reported 1060 yuan / ton, -0.
93%.

Domestic price: North China Daqing reported 9500 yuan, +0.
53%; East China Yuyao reported 9500 yuan, -0%; South China Guangzhou 9750 yuan, -0%; Northwest Dushanzi 9700 yuan, +0%.

The 1901 contract fluctuated lower, with a slight increase in trading volume and position, and there may still be a repeat
in the short term.
Fundamentally, crude oil shock fell back and ethylene weakness suppressed PE prices, but after a continuous decline, there are certain signs of over-fall in the short term to support
prices.

Technically, MACD is flattened low, green bars are shortening, KDJ has signs of a low golden cross, and short-term bearish strength weakens
.
Operationally, investors take advantage of the dip in their hands and wait for the opportunity
to go long.