PP upward resistance to the disk closes small doji

News side: Today's PP spot: Sinopec East China raised 250-300 yuan / ton; CNPC Northeast wire drawing increased by 50 yuan/ton, fiber part increased by 100 yuan/ton, injection molding increased by 150-200 yuan/ton, pipe 100-200 yuan/ton; PP CNPC North China film material increased by 100 yuan/ton, low-melt copolymerization increased by 200 yuan/ton, Dushanzi K8003 set at 11600 yuan/ton; CNPC Southwest raised by 50 yuan / ton
.
Today's futures remain high, petrochemical prices are strong, and market prices are mostly maintained at high levels, but the downstream is resistant to high prices, there are fewer inquiries, the transaction is general, and some areas need to make concessions
.

Raw material price: naphtha CF Japan reported 660.
25 US dollars / ton, up 0.
82%; FOB Singapore was trading at $72.
38 a barrel, up 0.
67%.

South Korea's FOB propylene price was 1070 US dollars / ton, flat, and the domestic propylene price was 9475 yuan / ton, up 100 yuan
.

Spot prices: Southeast Asia reported $1230, up $10; The Far East was up $10 at $1,220 a tonne
.
Domestic: North China Qilu no quotation; East China Sanyuan 10170 yuan, up 70 yuan; South China Maoming 10400, flat
.

The PP1901 contract encountered obstacles to the upside, closing a small doji with a longer upper shadow, and the position continued to increase
significantly.
Fundamentally, the obvious decline in social inventory and the firm spot price supported the price, but after continuous rise, there was a certain profit selling pressure
in the short term.

There is also a divergence in the technical picture, with the MACD continuing to fluctuate higher, but the KDJ indicator continues to diverge, and it needs to guard against technical adjustments
in the short term.
In terms of operation, it is recommended that investors reduce their holdings at high prices and drop their pockets
.