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PP weak finishing The intraday long position is closed obviously

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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The PP1809 contract opened at 9229 yuan / ton, the highest was 9240 yuan / ton, the lowest was 9160 yuan / ton, and closed at 9220 yuan / ton, down 55 yuan, or 0.
59%.

The trading volume was reported 229882 lots, and the position decreased by 24498 lots to 409818 lots
.

News: Yuyao PP market offer price fell at 50-150 yuan / ton, market adjustment volatility, merchants in a wait-and-see state
.
The Shantou PP market partially fell, excluding tax quotations, and the market waited and watched
.
Some merchants in the Tianjin market actively let profits facilitate transactions, and the mainstream price of wire drawing is 9050-9300 yuan / ton
.

Raw material price: naphtha CF Japan reported 673.
75 US dollars / ton, down 0.
37%; FOB Singapore was trading at $74.
55 a barrel, down 0.
36%.

South Korea's FOB propylene price was 1070 US dollars / ton, flat, and the domestic propylene price was 8375 yuan / ton, up 50 yuan
.

Spot prices: Southeast Asia was flat at $1260; The Far East was flat at $1,220 /
tonne.
Domestic: North China Qilu 9200 yuan / ton, down 100 yuan; East China Sanyuan 9220 yuan / ton, down 30 yuan; South China Maoming reported 9600 yuan / ton, unchanged
.

The PP1809 contract was weakly sorted out, and the intraday long position was closed significantly, and the upper pressure was still heavy
.
Fundamentally, the peak of device maintenance has some support for the futures price, but the loosening of the spot price has put some pressure
on the price.

On the technical side, the MACD red bar is shortened, the KDJ indicator is dead crossed downward, and there are short-term pullback requirements
.
Operationally, it is recommended that investors hold short orders with caution
.

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