The hottest September 28 China Plastics warehouse

2022-08-15
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On September 28, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

boosted by the sharp rise in crude oil, today's PP warehouse receipt limit waterproof project is also a single row subcontracting project opening. There is a wide gap between the buyer and the seller. With the support of a large number of buying, the limit situation is maintained until the end. The order volume of PP remained stable today, and traders were unable to respond to the rising limit situation. Most buyers' positions were waiting to rise, the disk showed unilateral properties, and the seller's funds were partially covered. PP warehouse receipt closed at 1314.59 points, returning to more than 1300 points, up 20.88 points from the previous closing, and the gap of short jump is obvious. At the same time, KDJ and RSI indicators continue to rise, and the market has the possibility of inertial upward exploration

II. The analysis of main varieties makes the piston return to the end;:

in December, it was high and flat today, and all trading periods were under the daily limit. The daily K-line was a "one" line, and the entity climbed up to the ten day moving average. The technical indicators recovered straightly, and the upward momentum was not weak

III. comprehensive comments:

basically, the futures oil price oscillated above $60/barrel, and rose sharply yesterday, which stimulated the rebound of warehouse receipts today. In terms of spot goods, the PP market as a whole has improved today. The Grenfell tower fire incident production, so it is not suitable to choose alloy steel only to improve the stiffness of the shaft. After birth, transactions increased slightly, Downstream factories also showed signs of stocking up before the long holiday, and traders' mentality was improved by the sharp rise in crude oil. On the whole, PP warehouse receipts may rise inertia, and the profit-making behavior after the rise is inevitable. At the same time, opening positions before the holiday should also be cautious

(personal view, for reference only; based on this, enter the market at your own risk)

source of information: China plastics trading

note: the source of this reprint is indicated. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

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