Brief comment on PP warehouse receipt in morning t

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On February 17, PP warehouse receipt was briefly commented in early trading

oil prices did not rise or fall on Monday. Today, the PP warehouse receipts of China Plastics Co., Ltd. showed a slight rise and fall in the lubrication range, with red and green disk. The main warehouse receipt variety pp0904 opened sharply lower at 750 yuan/ton. After the opening, the price fluctuated and rose, reaching the highest point of 7600 yuan/ton. Then it rose and fell, and there were big fluctuations in the late trading. The latest price was 7554 yuan/ton. The buyer and the seller are evenly matched, and the trading is extremely cold. The K-line chart shows that the entity has received a short positive line of the upper shadow, and the position of the entity's center of gravity is slightly lower than that of the previous trading day. The KDJ index shows that the opening of the third line is upward, and there is a trend of convergence.................................. (1). MACD indicators showed that the height of the green column was higher than that of the previous trading day

in the spot market, PP market quotation continued to decline. The rapid price rise in the early stage has hidden dangers for the market decline. When the downstream demand is not followed up, the low-cost supply in the market quickly lowers the market price. At present, the low crude oil price and the unsatisfactory follow-up of downstream demand have led to the lack of confidence of market participants in the future market

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content, which generally adopts mineral oil with medium viscosity

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