Liansu rushed back down and whether the rebound in the market can continue

News: As of November 14, some petrochemical inventories in the four major regions increased from last week, up 7.
98%.

In terms of varieties, high-pressure inventory increased slightly, and low-pressure and linear inventory increased significantly, both of which increased by more than
2,000 tons.
In terms of regions, inventory decreased in South China and East China due to the maintenance of some devices, and inventory increased in other regions
.

Raw material price: naphtha CF Japan reported 523.
5 US dollars / ton, +2.
2%; FOB Singapore is trading at $56.
08/b, +2.
37%.

ethylene CFR Northeast Asia 1000 USD/ton, +3.
09%; CFR Southeast Asia was trading at $910/mt, +3.
41%.

Spot price: Southeast Asia reported $1090, -0%; Far East reported 1030 yuan / ton, -0%.

Domestic price: North China Daqing reported 9350 yuan, -0%; East China Yuyao reported 9400 yuan, -0%; South China Guangzhou 9500 yuan, -0%; Northwest Dushanzi 9600 yuan, -0%.

The Liansu 1901 contract retreated higher, touching the 20-day moving average as high as and closing near
the 10-day line.
Intraday incremental position reduction, indicating that the upper pressure is still large
.
Fundamentally, the continued weakening of crude oil has suppressed
the price of LLDPE.
However, the prices of naphtha and ethylene stopped falling and rebounded, and port inventories also fell in the current period, which supported prices
.

Technically, both MACD and KDJ indicators are moving upwards at the low golden cross, indicating that there is a short-term rebound requirement
.
From a morphological point of view, plastics are still in the short and medium term moving averages between the shock sorting, whether the market rebound can continue, but also need to pay attention to the upper pressure
.
Operationally, investors hold long orders with the 8960 line as the stop loss level
cautiously.