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The Fed's interest rate hike expectations weakened, central banks have cut interest rates to release liquidity, and the global commodity futures market has once again ushered in an easing feast
.
Under the warm atmosphere, last Friday, the main 1701 contract bulls of Shanghai rubber futures rekindled their fighting spirit, exerted their power of flood and famine, increased positions in volume, and attacked vigorously, and the futures price successfully broke through the integer mark of 13,000 yuan / ton
.
Position data shows that bulls increased their positions aggressively, and the bears were not to be outdone, and made a strong counterattack
.
According to data released by the exchange, both sides of the Shanghai rubber 1701 contract have increased their holdings, and the strength is almost the same
.
Among them, the bulls increased their holdings by 8,003 lots, and the bears increased their holdings by 8,068 lots
.
The time period is longer, in the past week, in the top 20 seats, the size of the bulls' positions has increased significantly, and the expansion of the bears' positions should not be
underestimated.
The position of long positions rose sharply from 58347 to 66128 lots, a cumulative increase of 7781 lots; The position of bears rose sharply from 75224 to 85604, a cumulative increase of 10380 lots
.
From the perspective of net position, the net position of the top 20 seats recovered from 16,877 net positions on August 8 to 19,476 net positions on August 12, an increase of 15.
40%.
It is not difficult to see that although the strength of the bulls is strong, it is still not enough to match the bears, suggesting that the upward pressure on rubber prices is facing greater selling pressure
.
Judging from last Friday's positions alone, the strength of the bears is still obvious
.
Of the top 20 short seats in the 1701 contract, 15 are overweight, and only 5 are reducing their positions
.
Among them, SDIC Anxin Futures Seat, Zhejiang Futures Seat, Shenwan Futures Seat, Galaxy Futures Seat and Founder Medium-term Futures Seat increased their holdings in the forefront, increasing by 2232 lots, 1614 lots, 1010 lots, 840 lots and 886 lots respectively
.
At the same time, Yongan Futures Seat, Guotai Junan Futures Seat, Xinhu Futures Seat and Zhongda Futures Seat increased their holdings by 308 lots, 351 lots, 313 lots and 361 lots respectively
.
Ruida Futures seats and Haitong Futures seats both decreased by 290 lots
.
In order to break through the pressure level of 13,000 yuan / ton, the bulls can be described as using the power
of flooding on the 1701 contract.
However, the bears' resistance is also very strong
.
Against the backdrop of still weak fundamentals, it is worth paying attention to how long the bulls' energy can last, and rubber prices may face considerable pressure
this week.
At the same time, the power of bulls to continue to push futures prices is not weak
.
