PVC increases positions to a new high, and bulls have an advantage

News: Asian PVC prices fell $20/mt this week, CFR China, Southeast Asia prices at $940/ton, CFR India fell $40 at $970/ton
.
Asian PVC plunged $20-40 and hit a three-month low on Wednesday as producers continued to cut supply in response to the current weakness in demand
.
Most players expect quotations in May to be around $40/mt compared to April
.

Upstream price: Japan naphtha CF Japan reported 604.
75 US dollars / ton, up 0.
96%; Naphtha FOB Singapore was trading at $66.
64 a barrel, up 0.
76%.

ethylene CFR Northeast Asia 1360 US dollars / ton, flat; CFR Southeast Asia was flat at $1290/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR China was trading at $940, down $20, CFR Southeast Asia was trading at $940, down $20; North China calcium carbide law reported 6500 yuan / ton, up 40 yuan; ethylene law reported 6770 yuan / ton, up 70 yuan; East China calcium carbide method reported 6580 yuan / ton, up 30 yuan, ethylene method 6900 yuan / ton, up 50 yuan; South China calcium carbide method 6550, flat, ethylene method 6880 yuan, flat
.

Today, the PVC1809 contract fluctuated higher, and the intraday volume increased positions, and the short-term trend improved
.
Fundamentally, high inventories, environmental protection inspections and other factors have formed a certain suppression
of the futures price.
However, the central bank's RRR cut and crude oil trend firm, may support futures prices
.

Technically, today, the increase hit a recent high, and the MACD crossed the central axis, and the KDJ indicator also showed signs of turning upward, indicating that the bulls had the advantage
.
Operationally, investors can hold long orders with caution
.