The hottest LUZHENG Futures Crude Oil Rose, and PT

2022-08-17
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LUZHENG Futures: crude oil rose, PTA may usher in a rebound.

I. brief description of yesterday's market

on Tuesday, PTA's main 901 contract opened slightly higher driven by a slight rise in crude oil, but the market had a strong short atmosphere. Under the active mobilization of short funds, the futures price fell rapidly, once approaching the limit. Although it then rose under the influence of the rebound of linchi varieties, the overall decline remained unchanged, and the end market was finally closed at the limit, closing at 4704 points, Compared with the previous trading day, it fell 198 points, or 4.04%

II. Overview of the spot market and related markets

NYMEX crude oil futures rebounded slightly on Wednesday. Stimulated by the news that the Federal Reserve announced a 50 basis point interest rate cut to 1%, crude oil ushered in a large increase, closing at $67.50, compared with the previous trading day. At the end of taking the test piece, how can we tear off the shoelaces and hold an influence tensile test by the APEC meeting? Up $4.77, or 7.6%

it was not only the news of the Federal Reserve's interest rate cut that stimulated market buying. The EIA said that as of the week of October 24, U.S. gasoline inventories fell by 1.5 million barrels to 195 million barrels, which was the first decline since September 19

px prices continued to fall, and Asian market prices were basically flat, closing at $40/ton FOB South Korea. The European market price fell below the $600 mark and closed at $60/ton FOB Rotterdam

pta spot market did not change its downward trend. The mainstream negotiation price in East China internal market fell sharply from yuan/ton to yuan/ton, and the market negotiation atmosphere was very depressed. The mainstream negotiation price in the external market fell by $30 to $per ton CFR China l/c90 days. Market participants are pessimistic and bearish

in the downstream, Jiangsu and Zhejiang polyester continued to decline across the board, and the price of silk fell generally, with a large decline of 500, and the market transaction still did not improve. Jiangsu and Zhejiang polyester short-term market continued to decline, but in the past two days, the range has significantly slowed down, and the transaction situation is still not ideal. The three-dimensional hollow market in Yangzhou is weak and the sales are flat

III. technical analysis and operation suggestions

pta's main 901 contract continued to decline on Tuesday. Although it opened slightly higher in the morning, the market's long confidence has been extremely shrunk, but the small rise in crude oil recorded overnight will have a great impact on domestic energy and chemical products, and the crude oil MACD index has formed a low gold fork, with signs of rebound in the short term. Under this influence, PTA should not be too short-term, From the perspective of the day, the possibility of high opening shock is greater, and the bearish thinking of the middle line remains the same, but we should pay attention to the possibility of short-term rebound

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