Xiangyu Futures: External Market Instability &Nbsp; PTA Maintain Concussion (10.21)
Oil prices closed down sharply in October 21st. NYMEX crude fell $1.98, or 2.4%, at $80.56 a barrel.
Asia PX fell 21 to 1211-1212 U.S. dollars / ton FOB Korea; Europe fell 21 to 1144-1148 U.S. dollars / ton FOB Rotterdam.
Goods in stock
market
The PTA market is still in the adjustment pattern. Although the market sentiment in the afternoon has changed somewhat, the focus of the overall market turnover has moved slightly higher than the previous day's market.
The main market in East China's domestic market is 8400-8450 yuan / ton, and the market delivery is more than 8350-8400 yuan / ton, with a turnover of 8400 yuan / ton. The volume of Taiwan's products is $1050-1055 / ton, and the Korean product is quoted at 1035-1040 US dollars / ton, and the talks are in the range of 1040-1045 US dollars / ton and 1030-1035 US dollars / ton respectively.
Futures market
Tips
Yesterday, PTA showed a trend of high opening up, down and down, and finally closed at the end of the line.
The overnight market was bad, and Lun copper and crude oil dived for the end.
Today's domestic guidance is empty.
In terms of fundamentals, PTA terminal operation has been reduced, but polyester remains at high startup and low inventory status.
Therefore, if there is no systemic risk, PTA fundamentals will still have better support for prices.
But at present, the price of polyester is consolidating, and the actual push up kinetic energy is also insufficient.
PX prices have risen sharply, but the actual benefits to PTA are limited.
technology
As seen above, due to yesterday's high opening and low walking, PTA's daily line shape was obviously weakened, and the upper 10 and 5 day averages were suppressed, while the underside support was only a gap in the early stage.
Today's trend will be more complicated.
PTA itself does not have a strong driving force.
We believe that PTA will maintain its concussion in the near future.
If today's price can be retraced, the gap along the gap can be done more appropriately.
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