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As oil prices weaken further, chemicals have remained weak
overall.
At the same time, the market capital also continued to be tight near the end of the quarter, putting pressure
on domestic commodities.
In the market bearish atmosphere, Shanghai rubber further down along the previous downward channel, technically obviously in a short pattern, the main 1709 contract has run to around
16,000 yuan / ton.
As of the close of trading on March 27, the total position of Shanghai Rubber was 366364 lots, down 11,464 lots, or 3.
30%,
from the close on March 20.
From the perspective of transactions, the average trading volume in the last five trading days was 646087 lots, down 94240 lots or 12.
73%
from the average value of the previous five trading days.
It can be seen that the recent trading positions of Shanghai rubber have declined, and the decline in trading volume is relatively obvious
.
In terms of stock funds, as of the close of March 27, the scale of Shanghai rubber stock funds was about 7.
045 billion yuan, which was 1.
175 billion yuan, or 14.
29%,
compared with 8.
22 billion yuan closed on March 20.
On the one hand, it is due to the decline in open positions; On the other hand, the decline is more obvious, which is reflected in the stock of funds, and there is a superimposed reduction effect
.
As funds continue to flow out, bulls lack energy to fight back, and the recent market has not encountered much resistance
during the decline.
As of the close of trading on March 27, the total position of the top 20 long seats was 80,085 lots, the total number of positions of the top 20 short seats was 102464 lots, and the net position of the top 20 seats was 22,379 lots
.
In the past week, the main bulls reduced their holdings by a total of 12512 lots, and the main bears reduced their holdings by a total of 9115 lots, and the main bulls showed obvious signs of
exiting the market.
As a result, the main net short position climbed again and approached the early March high
.
In fact, whether it is the decline in trading positions or the reduction of positions on the main seat, it is related to the current increase in capital pressure, but the financial pressure also produces price pressure on the commodity itself, so the bulls appear more passive
.
