A brief comment on the PP market of China Plastics

I. Basic news:

on Tuesday (January 5), the oil price rose by $0.26 to $81.77 per barrel. No one really didn't want to go out today. The spot market of P was supported by the rise of petrochemicals. The overall atmosphere was OK. The business operation was stable, but the transaction remained weak. The warehouse receipt market was weak. The warehouse receipt index rose and fell soon after the opening, and all the gains in the early stage were reversed. After that, the market ended at yesterday's settlement level. At the close of 15:00, the China Plastics warehouse receipt index closed at 1022.47 points, down 1.74 points from the previous trading day

II. Technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order quantity

pp1003

11050

10990

11002

908

2359

pp1004

11150

11100

11111

444

1022

today's opening, PP warehouse receipts rose rapidly, continued to rise and blocked in the early stage, turned to oscillation and decline, and the market turned sharply downward, It fell below yesterday's settlement level. At 11:30 a.m., the trading ended, and the PP warehouse receipt index fell 1.95 points to 1180.51 points. In the afternoon opening, the decline did not expand, indicating that the support force below was still in place. The warehouse receipts were consolidated in a narrow range, marking a horizontal straight track, and closed slightly lower in the late trading. Finally, the PP warehouse receipt closed at 1180.15 points. Compared with the previous delivery, the object with a less than g accelerated with a smaller and smaller acceleration; When the instantaneous speed of the object reaches the maximum at mg=kx, it will fall by 2.30 points, or 0.19%. On the index day, the K-line closed at the short negative line, the physical center of gravity moved down slightly, the MACD index rose on both lines, the red column began to shorten, the KDJ index crossed at a high level, the opening of the BOL line changed little, and the price broken line leveled horizontally. 5. The comparison method moved. Today's trading volume is average, with 1618 batches of trading volume and 4551 batches of ordering volume

the main variety pp1003 opened higher and went higher. Soon, the market entered an oscillatory downward situation, and the decline expanded rapidly. In the afternoon, the market stopped falling and stabilized, showing signs of correction, and closed down slightly in the late afternoon. At the end of the session, pp1003 closed at 10990 yuan/ton, down 33 yuan/ton, and the daily K line closed at the meteor line

III. future market forecast

the recent A-share continued to adjust and the rebound was blocked. Today, the price of PP spot market continued to rise, the mentality of merchants was supported by petrochemicals, and traders with low inventory pressure operated steadily and were optimistic about the future market, but the transaction was still average. PP warehouse receipts rose and fell, falling below yesterday's settlement level, continuing the consolidation situation. At present, the wait-and-see psychology of plastic market investors has increased. Even the plastic market and warehouse receipt market have encountered adjustment pressure. The market amplitude is becoming smaller, and the long and short expectations are relatively scattered, and the volume can not be amplified. In the short term, consolidation should be the main way, but the possibility of downward adjustment cannot be ruled out

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