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데이터 기준일: 2026-10-28 · 결제 기준: 거래소 결제가(베이징 시간 15:00 종가, 전일 결제 대비)

CZCE.RS(RS2701) In-Depth Analysis Report | Bullish, Rally Continues Amid Position Shrinkage | 2026-10-29

Direction: Bullish. RS2701 [10-28 settlement] 5465, night/session quoted at 5535 (+1.06%), holding firmly above the next pivot P 5499, with a firm short-term structure. Core rationale: First, the price has rebounded from the 10-26 low of 5385, returning to the 62.8% level of the 20-day range 5385–5624, with bulls regaining control of the middle segment; second, after the daily lows of the past five sessions gradually rose 5437→5464→5385→5405→5425, the market moved up on expanding volume, and the 10-28 close of 5535 — the highest in the past five sessions — effectively opened the upside room indicated by ATR14 95.43 (R1 5573); third, the net-long direction of the top 20 seats remains unchanged, and the main position of 13914 lots, though slightly reduced, reflects active profit-taking by longs rather than pressure from shorts. The risk lies in the combination of shrinking open interest and high volatility (RV20 13.7%); the rebound needs the support of positions. Invalidation condition: a daily close below S1 5461.