The continuous plastic backtest support is effective and the rebound is expected to continue

News: The domestic polyethylene market continues to rise, the inventory of petrochemical enterprises is rapidly declining, the current sales company price is raised and limited orders, there are not many resources available for sale in the spot market, merchants actively overreport shipments, and the center of gravity of real orders has moved
up.
As of the midday close, the North China market was 50-300 yuan / ton; East China market is 100-200 yuan / ton higher; The South China market is temporarily consolidating
.

Raw material price: naphtha CF Japan reported 513.
25 US dollars / ton, +0%; FOB Singapore is trading at $55.
23/b, +0.
49%.

ethylene CFR Northeast Asia 900/ton, -2.
13%; CFR Southeast Asia was quoted at $830/mt, -2.
35%.

Spot price: Southeast Asia quoted $1020, -0%; Far East reported $980/mt, -0%.

Domestic price: North China Daqing reported 9350 yuan, +0.
54%; East China Yuyao reported 9400 yuan, +0.
53%; South China Guangzhou 9700 yuan, +0.
52%; Northwest Dushanzi 9400 yuan, -0%.

After the opening of the 1905 contract, the retest support was effective, and then it all maintained a volatile higher trend until the close
.
Both volume and position volume have been amplified
.
Fundamentally, the weak trend of ethylene in Asia has formed a certain suppression of prices, but the easing of the Sino-US trade war has boosted market sentiment to a certain extent, and the rebound of naphtha and domestic spot prices has produced some support
for plastics.
After entering December, the demand for downstream mulch film began to rise, which is expected to also drive the downstream demand
for plastics.

Technically, the MACD low golden cross, the red bar lengthened, the KDJ indicator low gold cross diverged upward, and the rebound is expected to continue
.
Operationally, investors can hold long orders with caution
.