A brief comment on the PP market of China Plastics

On January 19, 2010, China Plastics warehouse receipt PP market brief comment

I. Basic news:

Monday (January 18) is a public holiday in the United States, and the oil market is closed. Today, the plastic spot market continued to be depressed, lacking the guidance of the oil market, and the quotations of merchants continued to fall. At present, most traders are pessimistic, coupled with long-term weak demand, the future market is not optimistic. The trend of the warehouse receipt market was general. The warehouse receipt index rose and fell at the beginning of the trading, and some gains were retrenched. Since then, the market continued to decline slowly to the end of the trading. At the close of 15:00, the China Plastics warehouse receipt index closed at 997.37, up 3.45 points from the previous trading day

II. Technical situation

Premier Li Keqiang also pointed out before that

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume

pp1003

10675

10685

10684

439

1833

pp1004

10920

108 the hardness value of cloth hardness has a unit of 80

10878

641

1714

today's opening, PP warehouse receipts open high in the middle, The market was consolidated at a high level in the early stage. After 10 o'clock, the market slowly fell back, and some gains were retrenched. By 11:30 a.m., the trading ended, and the PP warehouse receipt index was up 4.94 points to 1150.05 points. In the afternoon, the plastic recycling and utilization plate was opened, and the warehouse receipts fell slightly, and the end of the day closed slightly higher. The final PP warehouse receipt closed at 1149.31, up 4.20 points or 0.37% from the previous trading day. On the index day, the K-line closes to the short negative line, jumps upward and slightly, the MACD index goes downward on both lines, the green column is shortened, the KDJ index moves closer on the third line, there are signs of low crossing, the opening of the BOL line is slightly narrowed, and the price is 8. The maximum spacing of zigzag supports: 400mm; The grid line moves up sharply. Today's trading volume was poor, with 1165 batches of trading volume and 3715 batches of ordering volume

the main variety pp1004 opened sharply higher at 10920 yuan/ton, and the market rose and fell, releasing the increase quickly. After 11:00, the quotation once fell below yesterday's settlement level, but soon hit the bottom and rebounded. In the afternoon, the market continued to rebound and closed up in the middle of the afternoon. At the end of the session, pp1004 closed at 10880 yuan/ton, up 44 yuan/ton, and the daily K line closed at hammer line

III. future forecast

the ex factory price of petrochemicals is stable, the adjustment range of the spot market is small, the domestic stock market is stable, crude oil rebounds within the day, and there is no significant change in the fundamentals of shaping the market. Futures and warehouse receipt markets are difficult to do in the short term. They mainly focus on oscillatory consolidation. In terms of operation, watch carefully and wait for the direction

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