Liansu was blocked from falling back and the short-term trend weakened

News side: The domestic polyethylene market continues to be weak, the decline of low-pressure varieties is more obvious, and the high-pressure, linear weakness is the mainstay
.
In terms of enterprises, the main regional chemical sales companies have lowered the prices of some high and low pressure products by 100-200 yuan / ton
.
In terms of the market, merchants' shipments are not smooth, and upside-down shipments are increasing
.
Most of the North China market fell 20-300 yuan / ton; The East China market is weak overall, with a decrease of 50-150 yuan / ton; The South China market fell by about 100 yuan / ton at low pressure, and the rest were weak and stable
.

Raw material price: naphtha CF Japan reported 546.
12 US dollars / ton, +0.
16%; FOB Singapore is trading at $58.
49/b, +0.
38%.

ethylene CFR Northeast Asia 1040 USD/ton, +0.
97%; CFR Southeast Asia is trading at $950/mt, +1.
06%.

Spot price: Southeast Asia reported $1090, -0%; Far East reported 1030 yuan / ton, -0%.

Domestic price: North China Daqing reported 9350 yuan, -0.
21%; East China Yuyao reported 9400 yuan, -0%; South China Guangzhou 9500 yuan, -0%; Northwest Dushanzi 9600 yuan, -0%.

The Liansu 1901 contract fluctuated lower, and the trading volume increased, but the position decreased significantly, indicating that the 20-day moving average still has a significant suppression of the futures price, and the upward pressure is still large
.
Fundamentally, the continued weakening of crude oil has suppressed
the price of LLDPE.
However, the prices of naphtha and ethylene stopped falling and rebounded, which supported the price
.

Technically, both MACD and KDJ indicators are repeated at low levels, indicating that the short-term trend is still weak
.
In terms of pattern, Liansu 1901 rebound was blocked and fell back, and the short-term trend weakened
.
Operationally, it is advisable
for investors to wait and see for the time being.