The rebound of continuous plastic is blocked, and the shock is continued to build the bottom

News side: Compared with March 21, the total inventory of some petrochemicals in East China increased by about 1,030 tons, and the total inventory is about 30,400 tons
.
10 tonnes reduction in high-pressure inventory; Low pressure inventories fell by 610 tons; Linear stocks increased by 1,650 tonnes
.

Raw material prices: naphta CF Japan was flat at $601.
12/ton; FOB Singapore was trading at $65.
84 a barrel, down 0.
02%.

ethylene CFR Northeast Asia 1385, flat; CFR Southeast Asia was flat at $1285/mt
.

Spot prices: Far East reported 1160 yuan / ton, down $15, Southeast Asia reported 1210 yuan / ton, flat
.
North China Tianjin Daqing reported 9200 yuan / ton, up 50 yuan; East China Yuyao Daqing Petrochemical 9400 tons, flat; South China Guangzhou Maoming reported 9350 yuan / ton, flat; Northwest Dushanzi reported 9500 yuan / ton, unchanged
.

The rebound of the Liansu 1805 contract was blocked, and the volatility fell after touching the 10-day moving average during the session, indicating that the short-term trend is still weak
.

Fundamentally, high traders' inventories and weak downstream demand have suppressed futures prices, but crude oil has fluctuated at a high level, and the recovery of Asian ethylene prices may form support
.

Technically, the current upper moving average suppresses the LLDPE1805 contract obviously, but the MACD and KDJ indicators have signs of divergence, indicating that there is still a rebound demand
in the short term.
Operationally, investors can build a light position and grab a rebound when they fall sharply, with a stop loss of 9,000 yuan
.