Continuous plastic rebound repairs basis Futures prices maintain range-bound finishing

News: Yanchang China Coal's 300,000 tons/year full-density plant began maintenance on the 9th, and is expected to start up on the 20th, and the low-voltage unit produces PN049
.

Spot market: The domestic polyethylene spot market is mixed
.
The opening price of petrochemical enterprises was adjusted, the range was 50-300 yuan / ton, the linear and high opening unit price increased slightly, the low pressure opening price declined, and the transaction atmosphere in the spot market improved
.
As of the close of the morning, the price in North China was adjusted by 50-200 yuan / ton, with a small linear increase; The low pressure drop in East China is about 100 yuan / ton; High pressure and low pressure in South China fell by 50-100 yuan / ton; Some parts of the southwest region fell slightly by 50 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 3003 lots, intraday +490 lots
.
Main position: The top 20 long positions in the main contract are 195612 lots, 748 lots, short positions are 254319 lots, 5333 lots, net long positions are -58707 lots, and short positions have increased more
.

Summary: The short-term price rebound repairs the basis and boosts the spot market, the spot market price stabilizes slightly, the pressure on single PE petrochemical inventory gradually increases, the demand is relatively weak, and the rebound is expected to be limited
.
Technically, the L1909 contract oscillated to the upside, the MACD indicator opening slowed downward, the KDJ indicator was in the overbought area and reformed the golden cross in the short term, short-term below the focus on support around 7650, above the test of 8000 mark pressure, the futures price is expected to maintain range shock sorting
.
Operationally, it is recommended to go long
on dips in the range.