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Ny Cot Exchange Cotton No.2 December 2017 Weekly: Movement To Remain In A Band

7 Nov 2017 10:28 am
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REPORT For Date 06/11/2017


Ny Cot Exchange Cotton No.2 December 2017 Weekly:
Movement To Remain In A Band

NY COT EXCHANGE Cotton No.2 (Price figures in cent/5000lbs):

Resistance will be at 69.37-70.22.

Support will be at 67.95-66.89.

The band of movement is 70.22-66.89.

Next directional movement can be witnessed outside the band.

Price is likely to remain between the bands till the next trigger happens.

The demand zone is 67.51-65.

The low registered in June 2017 is 65.

The low made in last few weeks is 66.84.

Upside breakout is above 70.22 and traders can trade long above 70.22 only.


TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Hold Short 68.72 69.78 DOWN 69.1 15.09 66.57 67.99 68.68 69.41 70.83

*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.

TECHNICAL INDICATORS TABLE

RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
49.30 2.70 33.16 84.31 -0.32 5.78 50.83 1.43







Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.

       
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