PVC rushes back down and the upper pressure appears

News: CFR Far East vinyl chloride prices fell to steady at $740/ton in the week of May 10, and CFR Southeast Asia held steady at $780/ton
.
In May, downstream PVC prices were lowered, and market demand decreased
.
However, due to the limited supply of vinyl chloride plant maintenance, sellers are reluctant to lower their quotations
.
Taiwan's Formosa Plastics plans to overhaul its 340,000-tonne-per-year vinyl chloride plant for one month
in June and July.

Upstream price: naphtha CF Japan reported 676.
25 US dollars / ton, down 0.
24%; FOB Singapore was trading at $74.
82 a barrel, down 0.
08%.

ethylene CFR Northeast Asia 1250 US dollars / ton, down 10 US dollars; CFR Southeast Asia was trading at $1185 a tonne, down $
10.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR China was flat at $940, CFR Southeast Asia was flat at $940; North China calcium carbide law reported 6840 yuan / ton, down 20 yuan; ethylene law reported 7050 yuan / ton, flat; East China calcium carbide method reported 6950 yuan / ton, flat, ethylene method 7150 yuan / ton, down 100 yuan; South China calcium carbide method 6980, flat, ethylene method 7280 yuan, flat
.

The PVC1809 contract rushed higher and retreated, and the final session still closed below the 10-day line, and the pressure above appeared
.

Fundamentally, factors such as the peak of equipment maintenance and the acceleration of traders' inventory reduction have formed a certain support for futures prices, but crude oil has fallen, and there are many
short-term profit orders.

Technically, the MACD red bar is shortened, the KDJ dead cross is downward, and the short-term has technical adjustment requirements
.
Operationally, investors can set a stop loss for short orders in their hands and hold
them cautiously.