Continuous plastic wide oscillation Pay attention to whether the 8200 first-line pressure can be effectively broken

In terms of news, Chengzhi announced on June 28 that the "600,000 tons/year MTO project" implemented by the company's subsidiaries has started construction and commissioning on June 26, marking that the project has officially entered the trial production stage
.
With a total investment of about 4.
2 billion yuan, the project will produce ethylene, propylene and butadiene
from methanol.

As of July 3, the total inventory of PE of the two barrels of oil increased by 5.
82% week-on-week and decreased by 9.
83%
year-on-year.
Among them, Sinopec's PE inventory increased by 6.
56% week-on-week; CNPC PE inventories rose 5.
43%
week-on-week.
The PE inventory of coal chemical enterprises increased by 3.
36%
week-on-week.
Domestic polyethylene traders' inventories increased by 10.
38%
week-on-week.

In the spot market, the domestic polyethylene market has risen in price, but the trading atmosphere has declined
.
In terms of enterprises, the inventory of sales companies is low, and the opening price continues to rise, ranging from
100-200 yuan / ton.
The trend of linear futures is volatile, there are not many business resources, and the offer is raised, but the downstream enterprises are insufficient to follow up, the market trading performance is deadlocked, and the transaction atmosphere is weak
.
As of the morning close, North China rose by 50-200 yuan / ton; East China increased by 100-200 yuan / ton; South China is 100-150 yuan / ton
.

warehouse receipt inventory, exchange warehouse receipt reported 1563 lots, intraday +0 lots; In the historical median zone
.
Main positions: The top 20 long positions in the main contract are 178428 lots, -3667 lots, short positions are 240677 lots, -6065 lots, and net long positions are -62249 lots, +2398 lots
.

Summary: The easing of Sino-US relations, the tension between the United States and Iran, and the peak of equipment maintenance have supported
the price of LLDPE.
However, weak crude oil has weighed on
prices.
Technically, the current L1909 contract bullish pattern has not been damaged, and the lower moving average has formed a certain support for the price, but the pressure of the 8200 yuan line cannot be ignored
.
The indicator MACD oscillated higher, the red bar contracted, and the KDJ indicator hovered at a high level, showing signs
of overbought in the short term.
The future market focuses on whether the pressure of the 8200 line can be effectively broken
.
In terms of operation, investors can reduce their holdings at high prices and drop their pockets for safety
.