PP low opening oscillation intraday shrinkage and position reduction

News: The market price of Yuyao PP generally fell by 50-100 yuan / ton, the market wait-and-see atmosphere is not reduced, the demand wait-and-see atmosphere is strong, and the buying order needs to replenish the warehouse
.
The price of PP market in Guangzhou fell, and the market waited and watched
.
Shanghai PP market drawing offer affected by the weakening of futures, traders quotations down about 30 yuan / ton from yesterday afternoon, near the weekend, factories bargain bargain replenishment
.

Raw material price: naphtha CF Japan reported 666.
25 US dollars / ton, up 0.
02%; FOB Singapore was trading at $73.
07 a barrel, down 0.
05%.

South Korea's FOB propylene price was 1060 US dollars / ton, flat, and the domestic propylene price was 8125 yuan / ton, up 25 yuan
.

Spot price: Southeast Asia was flat at $1265; The Far East was flat at $1230/mt
.
Domestic: North China Qilu 9100 yuan / ton, flat; East China Sanyuan 9150 yuan / ton, down 80 yuan; South China Maoming 9500 yuan, flat
.

The PP1809 contract opened low and fluctuated, and the intraday contraction and position reduction, the short-term weakness remained
.
The fundamentals coexist with long and short, the central bank lowered the RRR, the peak of device maintenance, and the fall of social inventories to produce certain support, but the escalation of the Sino-US trade war and the loosening of spot prices put certain pressure
on prices.

On the technical side, the MACD red bar is shortened, and the KDJ indicator shows signs of turning to the downside, indicating that the rally may be over
.
In terms of operation, it is recommended that investors set a take profit in their hands and hold
them cautiously.