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Undertaking the rebound momentum on Friday, turning into this week's domestic Shanghai rubber futures once slightly higher in early trading, the main 1609 contract price of Shanghai rubber rose to 11935 yuan / ton, but by the short selling pressure and the first line of resistance suppressed, the futures price then rushed back down and went lower, the afternoon rubber price fell rapidly and turned green, the center of gravity of the futures price moved down rapidly, as of the close of the Shanghai rubber 1609 contract closed slightly lower -0.
73% or -85 yuan / ton, the trading volume reached 734200 lots, a significant increase from last Friday; Interest volume increased slightly by 690 lots to 262698 lots
.
From a technical point of view, the domestic Shanghai rubber 1609 contract showed a trend of rushing back down, and the mid-term price continued to operate in the range of 11500-12000 yuan / ton box, and the 20-day moving average below formed a good supporting role
.
As the short-term Fed officials' "dove-to-hawk" statements put pressure on commodity performance, and the negative factors of high inventories in the personality factor period and the imminent opening of domestic production areas suppressed, rubber prices are expected to remain volatile in
the future.
From the perspective of positions, the main funds of the 1609 contract took an increase in short reduction, and the net short position was significantly reduced from 19701 on Friday to 18591
.
