The hottest glue price maintained a weak operation

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On Wednesday, driven by the overnight sharp rise in crude oil and gold, the benchmark August contract of Japanese rubber opened sharply higher at 310.2 yen today. After briefly reaching 310.9 yen, the price gradually oscillated and fell, and the downward trend continued in the afternoon. As of 15:30 p.m., Beijing has maintained a rapid growth rate every year for the past five years, and the contract was reported at 307 yen, up 1.4 yen from the previous day. In terms of fund positions, Japanese glue fund bulls continue to maintain a relatively stable position, and currently maintain a net long position of about 18000 hands. Technically, the rubber price has been oscillating above 300 yen in recent days. The pressure on the price above 310 yen is heavy, and it is still relatively weak in the short term. Pay attention to the performance of supporting the pressure level, and the breakthrough of the key level will give the subsequent operation direction

domestically, Shanghai Jiao opened higher in the morning with Japan Jiao, and the 807 contract once rose to around 24000, but the pressure on this level was obviously very heavy. Since then, the price gradually fell, reaching a low of 23280 in the day, and finally closed at 23485. Generally, degradation will occur, down 135 points compared with the previous day. By comparison, the short position strength of Shanghai Jiaotong obviously occupies an advantage. From the perspective of position, the short position has no intention of stopping, and has indeed formed a strong control over the price. In the short term, it is still in the short position. Technically, the price may further test the 23000 integer level

in terms of spot goods, since recent trading days, spot transactions have been relatively light in both domestic and Southeast Asian spot markets, mainly due to the fact that the early rubber companies have conducted a certain amount of procurement, which can temporarily ensure production. Under the expectation that the futures price will gradually decline, they have chosen to wait and see, hoping that the price will fall further. However, the producers and traders have no obvious intention of reducing prices, and the higher quotation with the strong support of the state has deterred the rubber enterprises. The price of Thai No. 3 cigarette glue rose slightly today, with an average price of 83.5 baht per kilogram

operation suggestions: the market continues to be weak, but I personally think that there is limited room for decline in the short term, so I will wait and see for the time being

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