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Report Industry Investment Rating No relevant content provided. Core Viewpoints - Crude oil continues to oscillate, lacking short - term drivers, with geopolitical drivers potentially becoming the short - term main line; some energy and chemical products operate independently of crude oil, and the blending logic may drive the upward movement of aromatic products; methanol has high inventory pressure but may have a mid - term long - making logic [1][3]. Summary by Category Crude Oil - Logic: Last week's large fluctuations were due to the continuous strengthening of European and American refined oil and the expected weakening in the EIA monthly report. Currently, short - term drivers have not changed significantly, and the supply - demand logic is not smooth. Geopolitical drivers are worthy of attention, and a short - selling opportunity may arise after the US military action against Venezuela [3]. - Technical Analysis: The daily - level is in a mid - term downward structure, and the hourly - level is in a short - term oscillating structure. The strategy is to wait and see on the hourly cycle [3]. Styrene - Logic: Recently, it has been relatively strong, with the rebound logic including short - term supply - demand improvement and the blending logic. The mid - term is still pessimistic due to supply - demand surplus and seasonal inventory accumulation [5][8]. - Technical Analysis: The hourly - level is in a short - term upward structure, with a short - term support at 6400. The strategy is to wait and see on the hourly level and look for short - selling opportunities after the daily - level rebound [8]. Rubber - Logic: The short - term contradiction is not prominent, and it is necessary to track the inventory accumulation rate. There is no fundamental driver for now [9]. - Technical Analysis: The daily - level is in a mid - term downward structure, and the hourly - level is in a short - term upward structure. Hold long positions on the hourly cycle with a stop - loss at 15130, but the upward space is limited [9]. Synthetic Rubber - Logic: The internal contradiction is not large, and it is necessary to focus on the cost - end butadiene drive, which also faces mid - term inventory swelling pressure [12]. - Technical Analysis: The daily - level is in a mid - term downward structure, and the hourly - level is in a short - term upward structure. The strategy is to wait and see on the hourly cycle [12]. PX - Logic: The polyester industry chain's self - contradiction is not large. Pay attention to the blending logic and the geopolitical upgrade risk in the Caribbean region [16]. - Technical Analysis: The hourly - level is in a short - term upward structure, with a short - term support at 6715. Hold long positions on the hourly level with a stop - loss at 6715 [16]. PTA - Logic: Similar to PX, pay attention to the blending logic and the geopolitical upgrade risk in the Caribbean region [19]. - Technical Analysis: The hourly - level is in a short - term upward structure, with a short - term support at 4620. Hold long positions on the hourly level with a stop - loss at 4620 [19]. PP - Logic: High supply pressure continues, and downstream demand is weak. Pay attention to the cost - end crude oil drive [23]. - Technical Analysis: The hourly - level is in a short - term downward structure, with a short - term pressure at 6520. The strategy is to wait and see on the hourly cycle [23]. Methanol - Logic: High inventory in ports suppresses the market, but domestic supply - demand structure has improved. Wait for long - making opportunities after the Iranian gas restriction is implemented and the price breaks through the pressure level. Also, pay attention to geopolitical drivers [25][27]. - Technical Analysis: The daily - level and short - term are in a downward structure. There are signs of short - term stabilization. Hold short positions on the hourly cycle with a stop - profit at 2040, and look for long - making opportunities after the price breaks through 2040 [27]. PVC - Logic: High supply and high inventory continue, with no upward driver due to weak real - estate demand [29]. - Technical Analysis: The daily - level is in a mid - term downward structure, and the hourly - level is in a short - term downward structure. Hold short positions on the hourly cycle [31]. Ethylene Glycol - Logic: High supply pressure and inventory accumulation. Be vigilant against short - term geopolitical risks in crude oil [32]. - Technical Analysis: The daily - level and hourly - level are in a downward structure. The downward momentum has weakened. The strategy is to wait and see on the hourly cycle [32]. Plastic - Logic: High supply, weak demand, and inventory accumulation. Be vigilant against short - term geopolitical risks in crude oil [35]. - Technical Analysis: The daily - level is in a mid - term downward structure, and the hourly - level is in an oscillating structure. The strategy is to wait and see on the hourly cycle [35]. Soda Ash - Logic: High supply and high inventory continue, with a downward fundamental drive [39]. - Technical Analysis: The hourly - level is in a downward structure. The downward momentum has weakened. Hold short positions on the remaining hourly cycle with a stop - profit at 1245 [39]. Caustic Soda - Logic: High supply pressure and weak demand, with no upward driver [40]. - Technical Analysis: The hourly - level is in a downward structure. The strategy is to wait and see on the hourly cycle [40].