The weekly volume of the hottest LLDPE is expected

2022-09-21
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[LLDPE weekly review] volume rise is expected to continue to climb

I. Market Review (June 18 - June 22)

LLDPE warehouse orders this week continued the trend of last week and continued to explore. Since Monday's bald long positive line, the entity has been stable above the daily average of 5 inspection samples this week, which is significantly supported, and the LLDPE index continued to rise to the recent high

following the baldheaded positive line at the close of last Friday, there was a slight turbulence and low opening at the beginning of the opening on Monday, but the buyer gave full play to the upward driving force accumulated at the end of last week, coupled with the support of high oil prices, the intraday linear index continued to rise, and the baldheaded Changyang line closed laid a certain power foundation for the continued rise in the aftermarket of this week; On Tuesday, supported by the strong rise of oil prices above $69, the linear index continued to rise, but due to the impact of some profit closing, it began to fall in the middle of the market until the end, falling by nearly half; This continued the inevitable trend of high opening and falling on Wednesday, but it was supported at the 5-day moving average to stop falling and rebound by more than half; With the release of some of the seller's capacity, the market improved significantly on Thursday, opening slightly lower and going higher, turning from decline to rise. There was no counter pressure from the seller in the session; Continuing this trend, it rose again on Friday. Driven by energy, the intraday index continued to fluctuate and rise

in terms of data, the current linear warehouse receipt index is 1368.05 points, up 8.75 points from last Friday, and the main warehouse receipts are up about 53 points on average from last week. The total turnover in a week is 14510 tons, basically unchanged from last week. The order volume on Friday is 6080 tons, an increase of 375 tons from last Friday. The specific data are as follows:

warehouse receipt variety

settlement price (yuan/ton)

ll warehouse receipt average daily transaction (ton)

ll warehouse receipt total order quantity (ton)

current weekend

last weekend

rise and fall

current week

last week

increase and decrease

current weekend

last Friday

increase and decrease

ll0707

12401

12394

7 ↑

2902

2907

5 ↓

6080

5705

375 ↑

ll0708

12562

12463

99 ↑

Second, comprehensive analysis:

on the weekly K-line chart of the index, the LLDPE warehouse receipt this week received a bare headed positive line, The focus of trading has moved up significantly. At present, there seems to be an inexhaustible rise. On the daily K-line chart, the focus of physical trading continued to rise, and the technical correction on Wednesday, but the range was not large. The K-line entity was strongly supported at the 5-day moving average. In terms of technical indicators when cleaning and reversing the metallographic microscope, the opening of the brin line continued to enlarge slightly in a stable manner, the price line was stable in the upper middle track, and the K coarse tooth rib was used for general connection; Fine rib is often used in the connection of small parts, thin-walled parts, dynamic loads and fine-tuning mechanisms. The DJ index continues to rise in the overbought area, and there is no sign of turning back. In the MACD index, the green column line gradually shrinks, and various technical indicators show that LLDPE warehouse receipts still have room to rise. In terms of volume and energy, this week's trading is pushing high and high volume up, which is obvious. Some traders are optimistic about the future market and continue to increase their positions into the market, Orders continue to increase

on the news side, due to the urgent oil situation in Nigeria and other reasons, international crude oil continued to rise. On Wednesday, due to the unexpected surge in U.S. inventories, the oil price plummeted in the turmoil. WTI crude oil on Friday was $69.14/barrel, up $1.14 from the same period last week, and Brent crude oil fell $0.29 to $71.18/barrel. In terms of spot goods, this week's LLDPE market was stable and the trend was OK. On Friday, driven by the rise of some petrochemicals, market inquiries increased and business confidence increased. However, due to the lack of support for actual transactions, the overall atmosphere did not significantly heat up

to sum up, LLDPE warehouse receipts still have room to continue to rise in the post market. However, in view of the fact that the upstream is not very stable and the high level of crude oil fluctuates and falls back, it is bound to have a certain impact on the warehouse receipts. Therefore, it is expected that the LLDPE warehouse receipts will still have the possibility of inertia upward in the near future, but the possibility of technical adjustment after the continuous rise cannot be ruled out

(personal view, for reference only; based on this, enter the market at your own risk)

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