Central Bank gives green light to Bursa Petrochemicals

Not long ago, the central bank announced a new notification for exchanges.

Type one only buys and sells in cash, but type two, depending on the level, can make remittances and work with foreign brokerages, which traders say are in practice the same trusts that circumvent sanctions.

This notification of the central bank for exchanges has an unspoken privilege for some export-oriented petrochemical companies that are one of the main suppliers of the country’s currency. According to the notification of the central bank, petrochemical companies that have significant foreign exchange income will have the possibility to open an exchange themselves and receive foreign exchange income. exchange themselves through their own exchange.

It seems that the new notification of the central bank brings a new privilege for petrochemical companies.

In such a situation, if the petrochemical companies manage to build an exchange, they can affect the duration of the currency return and return the currency in a shorter time, and recognize the commission of buying and selling the exchange as their income and profit.

In a situation where stock market and petrochemical companies often get their signals and positive and negative news from the budget and government. This time, with the arrival of the budget season, the central bank has signaled to petrochemical companies, which, in addition to improving the speed of currency return to the country, can increase income and profitability for petrochemical companies.

From the point of view of market psychology, the petrochemical and chemical group is one of the main leaders of the market, and the improvement of the situation of this group can improve the situation of the index of the entire stock market and the market as a whole.

The technical analysis of the chemical group index also shows that the index of this group, which has been stuck in the corrective path for some time, has hit the important and reliable support of the 38% Fibonacci level last week, which has reacted to this Fibonacci range three times before.