Lianplastic reduced positions and rebounded, and the bears prevailed

News: A few days ago, Zibo, Jinan, Yantai, Qingdao and other cities and districts in Shandong Province issued public notices
on the intention to "close and eliminate a batch" of chemical production enterprises.
According to incomplete statistics, more than
1,000 chemical plants have been closed and eliminated.

Spot market: The domestic polyethylene market atmosphere is weakening, and the trading center is mixed
.
In terms of enterprises, the opening price of mainstream regional sales companies was stable, linear futures fell, merchants were cautious, and the offer was partially lowered, and only a small number of tight resources still rose
slightly.
Downstream goods are cautious, and real orders are mainly on demand
.
As of the close of the morning, the adjustment range in North China was 50-200 yuan / ton; The linear part in East China fell by 50 yuan/ton; South China rose 50-150 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 2066 lots; In the historical median zone, intraday -40 lots
.
Main positions: The top 20 long positions in the main contract are 192122 lots, +7755 lots, short positions are 241825 lots, +15787 lots, and net long positions are -49703 lots, -8032 lots
.

Summary: The high level of crude oil falls, the Sino-US trade war intensifies, and the downstream demand for plastics generally suppresses the price of Liansu, but the increase in equipment maintenance and the decline in the two oil inventories will support the price of LLDPE
.
Technically, the L1909 contract rebound was blocked, the trading volume rose sharply, and the position volume also increased significantly, and the main position showed that the main position increase of the long party was less than the main position increase of the bear, and the short side was dominant
.
The indicator MACD hovered low, the red column contracted, and the KDJ indicator also hovered in the weak area, indicating that the strength of the bears increased, and the market paid attention to the support strength of the 7650 line
.
Operationally, investors can hold short orders cautiously
.