PP oscillations go higher and the technical pattern becomes stronger

News: As of June 27, domestic polypropylene social stocks have rebounded
.
Major petrochemical and oil inventories increased by 9.
16% from last week, trader inventories decreased by 0.
19% from last week, and overall inventories increased by 6.
90%
from last week.
The enthusiasm of agents to open orders is weak, terminal factories enter the market to take over some low-priced sources, and traders' inventories are slightly digested
.

Raw material price: naphtha CF Japan reported 652.
25 US dollars / ton, up 1.
60%; FOB Singapore traded at $71.
5 a barrel, up 1.
71%.

South Korea's FOB propylene price was 1050 US dollars / ton, flat, and the domestic propylene price was 7975 yuan / ton, flat
.

Spot price: Southeast Asia was quoted at $1285, flat; The Far East was flat at $1,250 / ton
.
Domestic: North China Qilu 9,000 yuan / ton, flat; East China Sanyuan 9130 yuan / ton, flat; South China Maoming 9600 yuan, flat
.

The PP1809 contract fluctuated higher, and the final session stood on all short-term and medium-term moving averages, and the technical pattern turned stronger
.
The fundamentals coexist with long and short, the central bank lowered the RRR, the peak of device maintenance, and the fall of social inventories to produce certain support, but the escalation of the Sino-US trade war and the loosening of spot prices put certain pressure
on prices.

On the technical side, the MACD green column shortened, and the KDJ indicator was low and golden, indicating that the market is still expected to come out of a technical rebound
.
Operationally, it is recommended that investors wait and see for the time being
.