by e-globalTrading

PVC resin futures contract is currently showing a classic wide consolidation formation technical pattern right into a previous support area PRICE between 5.651 and 5.800 RMB.

The referred demand building process began 7 months ago. Also, note that PVC price went down sharply after the 14,790 RMB peak (September 2021).

At the same time, observe the strong magenta color background highlighting the still bearish situation (possible PVC price down continuation) if the current demand built-up process finally fakes. 

PVC Daily Chart provided by MetaStock, Alerts provided by e-globalTrading – TradingVest USA

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