Shanghai rubber rushed back down and continued the volatile market

The opening price of the Nippon 1612 contract is 153.
6 yen/kg, the highest price is 157.
1 yen/kg, the lowest price is 152.
5 yen/kg, and the closing price is 155.
7 yen/kg; The trading volume was 5752 lots, and the position volume was 13550 lots
.

Domestic sales area market
.
14-year state-owned full latex 11000 (+300) in Shanghai; 14 years of Yunnan state-owned whole milk in Shandong 11000 (+300); The tax-free price of state-owned whole milk in Hengshui area for 14 years is 10400 yuan / ton (+100) yuan/ton, and the price of 15-year private whole milk tax-free is 10600 yuan / ton (+100) yuan / ton; Yunnan's 16-year private full latex quotation was 10900 (+100) yuan / ton
.

The warehouse receipts of natural rubber futures in the previous period decreased by 280 tons
compared with yesterday.
The warehouse receipt of natural rubber futures in the previous period was reported at 309480 tons
.
Among them, Shanghai decreased by 60 tons, Yunnan decreased by 130 tons, Shandong decreased by 80 tons, Tianjin decreased by 10 tons, and Hainan Ping
.

Holdings of the main contract of Shanghai Rubber (1609): the top 20 members have long positions of 58445 (-1496), short positions of 69396 (-3792), and net positions of 10951
.

The main contract of Shanghai rubber 1609 rushed back down on Wednesday and remained weak
throughout the day.
From the 60-minute candlestick chart, the K-line fell back below the 20 moving average, and the technical indicator MACD went well; On the daily chart, the K line returns to above the 60-day moving average, and the pressure around the 20-day moving average, that is, 11300, is heavier, the MACD green column continues, and the 11000 below is strongly supported
.
The support level is 11000, the first resistance level is around 11340, and the second resistance is around 11500, the trading volume has narrowed and the position has narrowed
significantly.

Comprehensive analysis, Shanghai rubber continued to fluctuate the market, driven by black varieties to rush back down
.
We believe that Shanghai rubber is not a strong variety, and the biggest pressure at present is still the warehouse receipt
in the previous period.
Next month is a month before delivery, the exchange will implement position limit and protection, long and short have the need to close positions, in comparison, the pressure of long to reduce holdings is greater, we recommend investors today can consider above 11300, the main contract 1609 on the high short sell, 11550 stop loss
.