A brief comment on the PE market of China Plastics

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On November 16, China Plastics warehouse receipt PE market brief comment

I. brief comment on linear warehouse receipt "you Xiaoping said:

today, the linear warehouse receipt as a whole jumped short, opened high and went low, and the intraday linear warehouse receipt index gradually declined. After filling the gap in the mid market, the buyer and the seller were once in a balanced state of power, and the trend was basically stable, but they were strongly suppressed by the seller again in the back market, and the linear warehouse receipt index fell sharply, At the end of the day, it closed at 1342.56, down 5.93 points from the previous trading day. On the K-line chart of the index day, the opening bareheaded negative line was closed, and the rise of the 5-day moving average slowed down. In terms of double volume, the transaction volume was large, while the order volume decreased slightly, and some traders closed their positions and waited

ll0701 jumped slightly, opened higher and went lower, and the intraday warehouse receipt price gradually fell. Although there was a slight rebound in the late trading, the range was not large, and it still closed down sharply. On the daily K-line chart, take out the opening bareheaded middle Yin line. The 5-day moving average shows that the force measuring piston rotates with a large friction or does not rotate, and it is basically flat. If it is later, it is very likely to show a downward trend

II. Brief comment on HDPE resin warehouse receipts:

the overall trend of HDPE resin warehouse receipts is flat and high, with large fluctuations in the middle and rear market. The final warehouse receipt index closed at 975.56, up 2.70 points from the previous trading day. On the K-line chart of the index day, the short positive line was closed, and the 5-day moving average continued to show an upward trend. The transaction volume decreased significantly, and the order volume was basically flat

hd0612 opened flat and went high, fell slightly in late trading, and ended up sharply. On the daily K-line chart, the opening bareheaded Changyang line was closed, and the 5-day moving average reversed and showed a downward trend

III. comprehensive analysis:

in recent days, international crude oil still fluctuates sharply, but there is no substantive breakthrough upward or downward. The PE market in all parts of the country is also in a stable state, with some brands fluctuating slightly, and the market delivery situation is still general. To sum up, it is expected that the warehouse receipts of China Plastics PE will fluctuate downward in the near future

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

source of information: China Plastics communications from scratch

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