Fuel oil: The bearish advantage weakens

On January 16, the fuel oil futures 2305 contract showed a trend
of shrinking and reducing positions, rushing back down and rising slightly.
During the session, the center of gravity of the futures price moved slightly up to 2640 yuan / ton, closing slightly up 0.
50% to 2637 yuan / ton
.
The fuel oil futures 2305 contract sharply reduced its position by 20,539 lots to 380927 lots, a drop of 5.
12%.

The data of the top 20 seats in the long and short position list of the exchange shows that the position of the fuel oil futures 2305 contract shows a double reduction of long and short
.
Among them, the bulls reduced their positions by a total of 11,524 lots to 194,930 lots; The shorts reduced their positions by a total of 15,484 lots to 263401 lots
.
As the total number of short orders reduced by the main bears was greater than the total number of long orders reduced by the main bulls, the net short position narrowed slightly to 68471 lots
.

Specifically, among the top 20 bulls, 14 have reduced their long positions
.
Among them, 2 companies reduced their holdings by more than 2,000 lots, namely Guotai Junan Futures and CITIC Futures, which significantly reduced by 2,206 lots and 2,871 lots
respectively 。 In addition, 9 companies reduced their holdings between 500 and 2,000 lots, namely Orient Futures Seats, Everbright Futures Seats, Orient Wealth Futures Seats, CSC Futures Seats, Ping An Futures Seats, SDIC Anxin Futures Seats, Industrial Futures Seats, Huaan Futures Seats and Haitong Futures Seats, which decreased by 1302 lots, 652 lots, 862 lots, 840 lots, 669 lots, 1591 lots, 543 lots, 789 lots and 785 lots respectively
.
The remaining 3 seats were reduced by less than 500 lots
.

Among the top 20 bears, 13 have reduced their short positions
.
Among them, 4 companies reduced their holdings by more than 2,000 lots, namely Guotai Junan Futures Seat, Galaxy Futures Seat, SDIC Anxin Futures Seat and Yongan Futures Seat, which significantly reduced by 2080 lots, 3511 lots, 2827 lots and 3341 lots
respectively.
In addition, there were 4 companies that reduced their holdings between 500 and 2000 lots, namely Founder Medium-term Seats, Huawen Futures Seats, Haitong Futures Seats and Huatai Futures Seats, which decreased by 1668 lots, 1278 lots, 1294 lots and 957 lots
respectively.
The remaining 5 seats were reduced by less than 500 lots
.

It is worth noting that among the top 20 seats in the long-short ranking on the day, 4 companies carried out long-short operations
.
The data shows that CITIC Futures increased its holdings by 430 short orders while reducing its holdings of 2871 long orders, Orient Futures increased its holdings by 943 short orders while reducing its holdings of 1302 long orders, Oriental Wealth Futures increased its holdings by 220 short orders while reducing its holdings of 862 long orders, and Industrial Futures increased its holdings by 5 short orders while reducing its holdings of 543 long orders, indicating that the above seats are not confident that the future market price will continue to rise, and the backhand layout of short orders
.

However, there are 2 seats that perform multiple flips
.
The data shows that Galaxy Wealth Futures seats increased their holdings by 318 long orders while reducing their holdings of 3511 short orders, and Yongan Futures seats increased their holdings by 17 long orders while reducing their holdings of 3341 short orders, indicating that the above seats believe that there is a rebound
in the future market price.

Yesterday, in the top 20 positions of the fuel oil futures 2305 contract long and short list, the net short position narrowed slightly to 68471 lots
because the total number of short orders reduced by the main force of the short was greater than the total number of long orders reduced by the main force of the long position.
Although the bearish advantage has decreased, it still firmly controls the dominant position
.
It is expected that the 2305 contract will continue to rise in the future, and the upside resistance is still in place
.