The most crazy long PTA rising and falling pattern

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The pattern of crazy long PTA rising but difficult to fall will become the norm

Abstract: the market of PTA contract in September and July showed a strong long position, and the price rose all the way from 6940, with the maximum increase of 1000 points. There are many factors that lead to a long market. The main foundation is the connection of hydraulic sensors. PTA has been a long trend since the beginning of the year, with obvious trend characteristics. The fundamental factors are that the macroeconomic situation has improved, the downstream PTA demand has increased, and PX rose by more than 9% in July, supporting the price rise in cost. This factor has gradually changed from bad in the early stage to good. The benefits of cotton, the elimination of common faults of macro testing machine, and the rise of PX have created the rise of PTA wave by wave. It is estimated that it is difficult to change these factors in the short term, so the pattern that futures prices are easy to rise but difficult to fall will become the norm of PTA in the next month

I. market review

great changes have taken place in the market in July. The performance of the overall market makes the Bulls very happy. The reason analysis is mainly based on the global economic recovery and the depreciation expectation of the US dollar index. Great changes have taken place in the domestic commodity market. Industrial metal products and agricultural products have parted ways, and it is increasingly obvious that the financial attribute of industrial products is stronger than that of agricultural products. The increase in the financial attribute of agricultural products is mainly based on the rise in the price of crude oil. At present, although crude oil also shows an upward trend, it is still quite different from other varieties, It is expected that the change in the relationship between industrial products and agricultural products is not temporary, and it may take enough time to re resonate with prices. PTA is not the strongest among all varieties. The performance of copper and aluminum rubber is more impressive in terms of absolute range. However, if PTA is affected by the domestic real estate market in terms of range, it has also seen a sharp rise, and its technical characteristics are more obvious

"in recent years, the figure of

is the PTA price trend chart. (picture source: Huishang futures)

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