REPORT For Date 29/01/2018
CZCE Cotton No.1 May '18 : Sideways Downward Movement Restored
Yuan per ton
Exit long position at 15215 or above as the opportunity arises.
Sideways movement has got restored after a weak movement last week with bearish candle.
Therefore, supports of 15055 and 14800 could under pressure.
The band of movement remains 14800 to 15635.
Recovery was not witnessed from the support and buying levels mentioned last week.
Bearish candle has been formed.
Resistance will be at 15310-15470-15635.
Lower range for the week can be 15055-14640.
The last major swing bottom was at 14800.
DRV is at 15063.
Correction to DRV-15063 or below can be used for accumulation with a stop loss of 14800.
Resistance of 15310-15470-15635 can be used to exit long position or to take profits.
Upside momentum can be restored on rise and close above 15635.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
-
|
15215.00
|
15063.61
|
UP
|
15090.0
|
5.01
|
14640
|
15055
|
15310
|
15470
|
15885
|
*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.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
15215.0
|
-2.0
|
1987502
|
-15.8
|
106508
|
-54.8
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
46.31
|
-13.13
|
68.02
|
-17.14
|
-21.43
|
-4.84
|
34.67
|
-23.79
|
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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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