PP dips and rebounds or will die

News: The sharp rise in the cost of upstream ethane feedstock drove the US ethylene spot price to a new high in the past six months, and the US ethylene spot price rose to 19.
25 cents / lb ($424 USD) on September 6 from the spot ethylene spot trading price of 16.
25 cents / lb in August last week
.

Raw material price: naphtha CF Japan reported 678.
25 US dollars / ton, down 0.
23%; FOB Singapore was trading at $73.
72 a barrel, down 1.
89%.

South Korea's FOB propylene price was 1090 US dollars / ton, flat, and the domestic propylene price was 9275 yuan / ton, flat
.

Spot price: Southeast Asia was flat at $1245; The Far East was quoted at $1220 / ton, up $5
.
Domestic: North China Qilu reported 10,030 yuan, flat; East China Sanyuan 9920 yuan, down 80 yuan; South China Maoming 10,100 yuan, down 100 yuan
.

PP1901 rebounded from the low, and the position volume decreased significantly, indicating that many funds left the market
.
Fundamentally, the decline in social inventory has formed a certain support for the futures price, but the downstream demand has not kept up in time, and the loosening of spot prices has formed a certain pressure
on the futures price.

Technically, the MACD indicator has flattened the central axis, the green column has signs of re-amplification, and the KDJ indicator has turned around at the midpoint, indicating a rebound or dying
.
Operationally, it is advisable
for investors to wait and see for the time being.