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With yesterday's Shanghai rubber futures hit a new stage high, some long profits in the market began to cash, the mid-term price of the main 1605 contract of Shanghai rubber showed an adjustment trend, the night rally in the morning high open low quickly fell back and tested the 5-day moving average to seek support, the market long and short divergence tends to aggravate, the center of gravity of the futures price slightly downward, as of the close of the Shanghai rubber 1605 contract slightly lower -0.
51% or -55 yuan / ton, the trading volume reached 526924 lots, slightly shrinking from yesterday; The open position decreased significantly by 8758 lots to 275448 lots
.
From a technical point of view, the domestic Shanghai rubber 1605 contract showed a trend of rushing high and falling, and the volatility was lower, and the intraday short force began to exert force, and the divergence between bulls increased, and the market selling pressure intensified
.
The joint reduction of exports of rubber producers and the signal of the Federal Reserve to slow down interest rate hikes have become the reasons for the recent strengthening of Shanghai rubber, but in the face of the reality that downstream demand is still weak, the upside of futures prices has shrunk
.
From the perspective of positions, the main fund reduction of the 1605 contract is significantly stronger than the short, and the net short position has increased significantly from yesterday's 19357 lots to 20549 lots
.
