Liansu rebound hindered, the market attitude is cautious

News: As of June 14, polyolefin inventories in major domestic ports were basically stable
.
Shanghai port inventory was 294,100 tons, Huangpu port inventory was 79,200 tons, and Tianjin port inventory was 62,100 tons, with a total of 435,400 tons, down 05,000 tons
from last week.

Spot market: The trading atmosphere of the domestic polyethylene market is not high, and the focus of negotiations has shifted
downward.
In terms of enterprises, the low-pressure opening price of the main regional sales company was reduced, with a range of 100-250 yuan / ton
.
Linear futures fluctuated slightly, merchants were cautious, some risk aversion sentiment had low operations, downstream just needed to purchase, real negotiation transactions
.
As of the morning close, the price in North China was 50-200 yuan / ton; East China partially fell by 50 yuan / ton; The volatility of the South China market is around 50 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 1539 lots, intraday - 32 lots; In the historical median zone
.
Main positions: The top 20 long positions in the main contract are 212230 lots, +740 lots, short positions are 288196 lots, +4218 lots, and net long positions are -75966 lots, -3478 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 7450-7700.