PVC position reduction rebound, multi-party strategy prevailed

News: the national price is at $850/ton, CFR Southeast Asia is at $840/ton, CFR India is at $880/ton
.

In terms of market, the PVC market trend of Qilu Chemical City has improved, the price of some brands has been raised by 10 yuan / ton, the mainstream price of calcium carbide type 5 is 6370-6380 yuan / ton (including tax self-pickup), and the price of ethylene Qilu is 6600-6650 yuan / ton
.
The price of five-type material in Guangzhou PVC market is stable, the mainstream price of calcium carbide five-type material is 6350-6450 yuan / ton, and the ethylene material Dagu 1000 type 7000 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 3 lots, -0; in the historical low area, stable
during the day.
Main positions: The top 20 long positions in the main contract are 111593 lots -746 lots, short positions are 110620 lots, -1505 lots, and net long positions are 973 lots, +759 lots
.

Fundamentally, the strong trend of crude oil has produced some support for prices, but the inventory of production enterprises remains high, and the sluggish demand for PVC downstream has suppressed prices to a certain extent
.
Technically, PVC1905 rebounded slightly, closing barely standing on the 5-day moving average, but the trading volume decreased significantly, the position volume also fell, the main position shows that the main force of the bears to reduce positions is slightly greater than the main force of the bulls, and the multi-party slightly advantage
.
The technical indicator MACD median flattened, the green bar contracted, and the KDJ indicator flattened at the low level, indicating that the multi-directional strategy prevailed
.
Operationally, it is recommended that investors wait and see for the time being
.