The hottest Shanghai glue will enter the downward

2022-09-30
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Shanghai Jiao will enter the downward channel

the main contract 909 of Shanghai Jiao will open low and go low. It closed at 14840 yuan/ton at the end of the trading day. Its positions and trading volume have shrunk significantly, and there are signs of capital outflow

the news was mixed. The news that general motors may file for bankruptcy put pressure on the market, and the stock fell 32 cents, which was a major bad news for the futures market, especially rubber. Prices in overseas markets continued to rise yesterday. As Thailand was in songgan Festival, there was no raw material trading during the factory holiday; Due to drought, the price of natural rubber in India continues to rise, and the resin will solidify on it; The quotation of China national rubber also increased to 14679 yuan. As a series of production reduction agreements of major producing countries have worked, the association of natural rubber producers said on the 13th that China will continue to promote the construction of free trade zones, and the global natural rubber production is expected to decline by 2.2% to 8.9 million tons in 2009

on the disk, Shanghai Jiao has fallen below the support of the 5-day moving average, and the total position has decreased significantly, indicating that the main bulls have a strong desire to take profits. In addition, after the festival, Thailand's new rubber will be listed one after another, which will greatly ease the current tension of spot goods. At that time, we will pay attention to whether the purchase and storage can be carried out as scheduled. In the short term, the momentum of Shanghai Jiaotong's rise has been exhausted. It is suggested that investors should keep the idea of short selling and sell short at high prices

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