Polypropylene is more likely to return in the short term

Polypropylene is more likely to return in the short term

On November 17, the linear 1501 contract of the Dalian Commodity Exchange briefly rose slightly after opening higher and fell out of shocks. It fell 100 yuan per ton for the whole day, a decrease of 1.00%, and it closed at 9,905 yuan per ton, with 551,000 contracts and 34.5 positions. Millions of hands. Polypropylene 1501 contract trend is basically the same trend with the linear **, stronger than the linear **, after the high open out of the shock down trend, down 15 yuan / ton throughout the day, a decrease of 0.15% to close at 9720 yuan / ton, turnover of 253,000 hands , Holds 172,000 hands.

From the technical point of view: linear ** 1501 contract opened slightly higher after the shock began to fall, to close out the long shadow of the long physical entity Yin Zhu. The 5-day moving average, 10-day moving average and 40-day moving average divergence downwards. The 5-day moving average penetrated down to the 10-day moving average. The MACD closed gap closed and the red bar was significantly reduced. The KDJ divergence downwards indicates that the recent rise is more likely. The long-short strength index shows that short-term strength has obviously prevailed and oversold phenomena have already emerged. Although the possibility of continued downward movement is relatively high recently, there is a possibility of a technical rebound in the latter period. Without considering the impact of crude oil, it is more likely to open slightly lower tomorrow. It is necessary to pay attention to the support level of the 9815 position at the low level of the previous gap. If there is strong support, it will stop falling; the top should focus on the 20-day moving average and the 40th. Whether the average sticking point releases a greater pressure.

The polypropylene ** 1501 contract opened briefly higher and rose briefly. It was oscillated by the release of the pressure on the 10-day moving average and started to fluctuate in the afternoon. The 5-day moving average continued to penetrate the 10-day moving average and the 20-day moving average, indicating that it is still in a downtrend channel. KDJ divergence downwards, MACD up gap closed, red column has shortened, the formation of the death fork trend, indicating that the possibility of continued decline in the near future is greater. The long-short strength indicator shows that short-term strength has prevailed at present, and the oversold phenomenon is not obvious and will continue to decline in the short-term. Without considering the impact of crude oil, it is more likely that the market will open lower in the morning. It is necessary to pay attention to whether the early low level of RMB9,650/ton will form a strong support. If this position shows some support, then the low consolidation trend will start. If it does not show strong support, it will continue to cover the early gap.

From a fundamental point of view: domestic prices in most petrochemical regions remain stable, only some of the Sinopec Central China brands are expected to lower expectations, the market wait-and-see attitude to occupy the mainstream. Traders are actively shipping and low-stock operations are the main factors; downstream factories are still bearish on the market, receiving goods will be low, market inquiries are limited, and trading atmosphere is light.

In summary, the petrochemical individual regions are lowered, and the cost of cargo sources is lowered, which provides a basis for the continued downward movement. From the technical point of view, the linear ** and polypropylene** are still in a downward path and will continue to oscillate in the short term. Downside, it is highly likely that the short-term gap will be covered. In the medium-term, with the gap covering, the oversold phenomenon will become more apparent, and linear ** and polypropylene ** may rebound technically.

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 HIDEEP Product Information

Product description

Shower faucet

Brand name

HIDEEP

Material

Brass main body and zinc alloy handle

Material analysis

Cu≥59%

Air pressure testing

0.6 Mpa

The thickness of chrome plating

Nickel>8um Chrome>0.2um

Salt spray test

24 hours

Water flow

Bath/Shower Mixer≥18L/min,

Cartridge life time

300,000 times open and close

Quality guarantee

5 Years quality guarantee

Certification

ISO9001, CE

OEM and ODM

Acceptable

Installation mode  

Wall-mounted

Function  

Hot/cold water mixer

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