Liansu rebound blocked investors wait and see for the time being

News: In October this year, Sino-Korean Petrochemical produced 77,000 tons of ethylene, a record high
.
Overcoming the tight supply of naphtha and hydrogenation tail oil cracking feedstocks, the company achieved a full-month ethylene yield of 32% and an average daily ethylene production of more than 2,500 tons
through deep optimization operations.

Raw material price: naphtha CF Japan reported 577.
25 US dollars / ton, -1.
64%; FOB Singapore is trading at $62.
14/b, -1.
82%.

ethylene CFR Northeast Asia 920 US dollars / ton, -0%; CFR Southeast Asia is trading at $835/mt, -0%.

Spot price: Southeast Asia reported $1110, -0.
89%; Far East reported 1040 yuan / ton, -1.
82%.

Domestic price: North China Daqing reported 9450 yuan, -0%; East China Yuyao reported 9500 yuan, +0.
53%; South China Guangzhou 9750 yuan, -0%; Northwest Dushanzi 9600 yuan, -0%.

The rebound of the Liansu 1901 contract was blocked, and the final session still closed below the 10-day line, and the trading volume and position volume declined, indicating that the short-term trend is still repeated
.
Fundamentally, crude oil shock fell back and ethylene weakness suppressed PE prices, but after a continuous decline, there are certain signs of over-fall in the short term to support
prices.

Technically, MACD is flattened low, green bars are shortening, KDJ has signs of a low golden cross, and short-term bearish strength weakens
.
Operationally, investors are temporarily waiting for the opportunity
to go long.