PP oscillations go higher and short positions do not chase higher for the time being

News: Yuyao PP market price rose by 20-150 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
.
Guangzhou merchants offered prices up, and the mainstream quotation of wire drawing was 9000-9400 yuan / ton, and the real transaction was negotiated
.

Raw material price: naphtha CF Japan reported 647.
38 US dollars / ton, up 0.
6%; FOB Singapore was trading at $71.
12 a barrel, up 0.
54%.

South Korea's FOB propylene price was 1060 US dollars / ton, flat, and the domestic propylene price was 8475 yuan / ton, down 50 yuan
.

Spot prices: Southeast Asia was trading at $1240, flat; The Far East was flat at $1,205 /
tonne.
Domestic: North China Qilu 9250 yuan, up 100 yuan; East China Sanyuan 9480 yuan, up 110 yuan; South China Maoming 9700 yuan, flat
.

The PP1809 contract fluctuated higher, and the trading volume and position volume were significantly amplified, indicating that the bulls still have the advantage
.
During the maintenance period of the device, the decline in social inventory, and the firm spot price supported the price, but the escalation of the Sino-US trade war produced certain pressure
.

On the technical side, the MACD red bar is higher, the KDJ indicator has signs of divergence, and there may be a technical correction
in the short term.
In terms of operation, it is recommended that investors set a long take profit in their hands, hold them cautiously, and those who are short positions do not chase higher
for the time being.