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

CZCE.SH(SH2701) Deep Analysis Report | Position Increase Breaks 20-Day Low, Shorts Actively Add | 2026-10-29

Direction: Bearish. SH2701 [10-28 Settlement] 1476, night session [10-28 23:00] settled at 1442, breaking below the 20-day low of 1477, confirming the trigger condition. Three core reasons: First, price down 13.91% over 5 days and 22.65% over 20 days, ATR14 at 45 (3.11%), a trend decline with expanding volatility; Second, main position increased by 33,697 lots to 351,629 lots, nominal open interest increased by 1.464 billion yuan, position increase on the downtrend indicates active short adding; Third, open interest is at the 100th percentile over the past year, indicating extremely high concentration of short positions. Invalidated condition: Daily close breaks above 1486.67 (next pivot R1).