PVC retreated slightly to focus on moving average support below

News: The average weekly operating rate of PVC manufacturers in this cycle is 75.
23%, an increase of 3.
91% from last week and 0.
79%
year-on-year.

Spot market: Changzhou PVC market shock sorting, morning futures low open, spot merchant prices stable and slightly lower by about 20, the mainstream of 5 types of material in 6850-6930 yuan / ton, Yihua 6850 yuan / ton, Jintai 6900 yuan / ton, Zhongtai 6920 yuan / ton, Tianye 6930 yuan / ton, ethylene method 1000 type Jiangsu market mainstream delivery price is about 6900-7150 yuan / ton, real order negotiation
.

Warehouse receipt inventory: the exchange warehouse receipt reported 2000 lots, which is in the historical median area, +0 lots
within the day.

Main positions: the top 20 long positions in the main contract are 141106 lots -13660 lots, short positions are 153443 lots, -8130 lots, and net long positions are -12337 lots, -5530 lots
.

Summary: The easing of Sino-US relations, the recovery of prices in the Asian market, and the peak period of equipment maintenance have produced certain support
for PVC prices.
However, the weak trend of crude oil has put some pressure
on prices.
Technically, the PVC1909 contract bullish pattern was not broken, the lower moving average temporarily produced some support for it, MACD edged higher, but the red bar contracted
.
The KDJ indicator oscillates at a high level with signs of
divergence.
In terms of operation, investors are advised to hold
long positions with caution.
Conditional investments can first throw out long orders in their hands when they rise sharply, and then pick them up
after they return.