Ethylene glycol futures, trading code EG, belongs to products in the chemical field and is traded on large commercial exchanges. Glycol includes coal glycol and oil glycol. The target of our transaction is oil glycol, which is extracted from crude oil, so ethylene glycol is directly proportional to crude oil. Ethylene glycol in the chemical sector fluctuated greatly and the trend was relatively strong. It belongs to the same root and homologous relationship with PTA and short fiber, so they have the strongest correlation.
Using the vibration of daily chart and weekly chart, we can grasp the trend.
On the daily chart, MACD and bollinger bands can be used as key references to judge the direction of ethylene glycol. Take advantage of the long-short trend and good supporting effect specified by the bollinger Band, and increase or decrease positions. Although MACD indicator lags behind, it is a trend indicator, so it is best to judge the general direction and participate in it. In the past trend, MACD indicators have basically made no mistakes in direction judgment, and there is a lot of profit space.