Fuel oil bears reduced their holdings even more

On November 29, after the main 2301 contract of Shanghai fuel oil futures opened low, long and short reduced their positions at the same time, and the futures price fluctuated
in a narrow range.
After that, with the increase in the reduction of short positions, the futures price quickly rose, but the bulls took the opportunity to leave the market, and the futures price rally was blocked
.
In the afternoon, the bears once again reduced their positions, the futures price rose further, the bulls also took profits again, and the futures price closed with a slight increase
.

The data of the top 20 seats in the exchange long and short ranking shows that the 2301 contract has a trend of long and short decreasing
.
Among them, the bulls reduced their holdings by 41967 lots, and the bears reduced their holdings by 52698 lots, and the bears reduced their holdings by a large
margin.

Specifically, among the top 20 long seats in the fuel oil futures 2301 contract, except for Zhejiang Futures seats, which slightly increased their holdings by 51 lots, the rest of the seats were all reduced
.
Among them, there are 4 seats with a reduction of more than 4,000 lots, but none of them exceed 6,000 lots
.

Of the top 20 bears, 6 were overweight
.
Among them, Yongan seats increased by more than 5,000 lots, while the remaining seats increased their holdings within 2,000 lots, and some seats only made minor adjustments
.
Of the 14 seats that reduced their short positions, 3 had more than 8,000 lots
.
Among them, CITIC Futures and Guotai Junan Futures both reduced their holdings by more than 12,000 lots
.

It is worth noting that 11 of the top 20 seats in the long-short ranking on the day made long-short same-direction adjustment operations on their positions
.
Among them, Galaxy Futures only reduced its position of 3271 short orders while reducing its long position by 4311 lots, and the net short order increased to 22038 lots; Founder medium-term futures seats reduced their holdings by 1602 long orders while only reducing their short positions by 460, reducing their net long positions to 3736 lots
.
The above data shows that this part of the seats is more pessimistic
about the future market.

On the contrary, CITIC Futures, which also ranked first in the long and short rankings, significantly reduced its holdings of 12,230 short orders by 12,230 while reducing its long positions by 5,698 on the same day, reducing its net short orders to 5,936 lots; Guotai Junan Futures seat significantly reduced its holdings of 12020 short orders while reducing its long position by 1283 lots, and the net short order was reduced to 5836 lots; Haitong Futures reduced its position of 9717 short orders while reducing its long position by 5775 lots, and the net short order was reduced to 5443 lots; Orient Futures Seat, Huatai Futures Seat, SDIC Anxin Futures Seat, Huawen Futures Seat, GF Futures Seat and Haizheng Futures Seat all reduced their short positions on the same day than in long positions
.
The above data shows that this part of the seats is more optimistic
about the future market.

In addition, the Yongan Futures seat increased its holdings by 5075 short orders while reducing its long position by 1410 on the same day, and the net short order increased to 7001 lots; Oriental Wealth Futures increased its holdings by 1789 short orders while reducing its long position by 5236 lots, reducing its net long orders to 9646 lots; CSC Futures increased its holdings by 198 short orders while reducing its long position by 1852 lots, reducing its net long orders to 2075 lots; Everbright Futures also made similar operations
to reduce long and increase short on the same day.
The above data shows that this part of the seats is more pessimistic
about the future market.

By observing the trend of the main position, the author found that among the top 20 main seats in the long-short ranking on the day, the overall trend was long and short
.
From the perspective of the direction and strength of the adjustment of the main positions between seats, it is difficult for the long and short forces to distinguish between victory and defeat
.