November 12th LLDPE Market Review of China Plastics Warehouse Receipts

First, the basic message

The October monetary and credit data released by the Central Bank on the 11th showed that the narrow money (M1) and broad money (M2) rebounded again this month after they both fell back in September. M2 increased by 19.3% year-on-year, an increase of 0.3% from the previous month. M1 increased by 22.1% year-on-year, an increase of 1.2% from the previous month. The "down scissors difference" between M2 and M1 has expanded compared with August and September. Thursday (November 11) New York Mercantile Exchange West Texas Light Oil December ** settled at US$87.81 a barrel, unchanged from the previous trading day.

Second, the technical status

LLDPE's warehouse receipts index opened lower and lower today, and the decline was heavier. The final LLDPE warehouse receipts index closed at 1116.9, down 24.62 points or 2.16% from the previous trading day. The Japanese K line closed downwards in the aerial Yin line, temporarily supported by the 5-day moving average and the volume was able to shrink sharply from the previous trading day. In terms of technical indicators, the MACD indicator Hongzhu shrunk, the KDJ indicator divergence downwards, the BOLL line opening enlarged, the price break line Fell quickly. The volume of the whole day was reported to 38 batches, and the order quantity was reported to 135 batches.

Today's main product, LL1012, opened lower and fell sharply. As of the close LL1012 closed at 11,860 yuan / ton, down 324 yuan / ton, a decrease of 2.66%. The Japanese K line closed down the big negative line and fell below the 5-day moving average.

Third, the market outlook forecast

Even after the plastic opened the market today, the price limit was directly sealed, and the LLDPE warehouse receipts index also fell sharply. The pre-mad rising momentum suddenly dissipated, and the short-term atmosphere quickly filled. As far as the author's personal views are concerned, there is still room for downside in the short-term, but there is still the possibility that the mid- to long-term challenges will be high.