Lianplastic shock lower Pay attention to the support of the 7600 line

In terms of news: Bai Yi, vice president of the Petroleum and Chemical Industry Planning Institute, pointed out at the "14th Five-Year Chemical Industry Development Seminar" that China's petrochemical and chemical industry has entered a stage of high-quality development, and the "14th Five-Year Plan" period will highlight the characteristics of high-end development, strengthen the petrochemical industry, integrate traditional chemicals, develop new chemical materials, and upgrade chemical new energy as the leading direction of high-quality development of the industry, and strive to 2025, the foundation and competitive advantage of China's petrochemical and chemical industry will be in the forefront
of the world.

Spot market: The transaction price of the domestic polyethylene market is mostly lower, and the transaction atmosphere is light
.
In terms of enterprises, the linear opening price of the main regional sales company was reduced, and the high-pressure part increased slightly, with a range of 50-100 yuan / ton
.
Linear futures fell widely, risk aversion dominated by industry sentiment, most of the offers were lower, downstream goods were cautious, and the real trading atmosphere was light
.
As of the morning close, North China was 30-200 yuan / ton lower; East China slightly lower by 50-150 yuan / ton; South China fell by 50-200 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 1662 lots; In the historical median zone, intraday -404 lots
.
Main positions: The top 20 long positions in the main contract are 195658 lots, +2020 lots, short positions are 243217 lots, +1851 lots, and net long positions are -47559 lots, +169 lots
.

Summary: The heavy decline in domestic crude oil, the intensification of the Sino-US trade war, and the downstream demand for plastics generally form a certain suppression on the price of continuous plastics, but the increase in equipment maintenance will support the price of LLDPE
.
Technically, the L1909 contract fluctuated lower, 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 greater than the main increase of the short force, and the long party was dominant
.
The indicator MACD hovered low, the red bar flattened, and the KDJ indicator is also operating in a weak area with signs of
weakness.
It shows that the bears still have the advantage, and the market pays attention to the support of the 7600 line
.
Operationally, investors can hold short orders cautiously
.