Ny Cot Exchange Cotton No.2 May 2018 Weekly: Higher Range Is To Take Profits

REPORT For Date 19/03/2018

Ny Cot Exchange Cotton No.2 May 2018 Weekly: Higher Range Is To Take Profits

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

Last week, Cotton No2 May 2018 formed an In Bar on weekly chart along with the Harami

candle which suggest that near term pause to the rise could be seen.

Resistance will be at 83.31-84.57-87.56.

The peak registered 2 week back was 86.60.

Support will be at 81.58-81.71.

Correction and swing top will be confirmed on fall and close below 81.70.

A lower high and lower low with bearish candle will confirm the swing top.

Expect resistance and profit booking on long position to be undertaken at 83.31-84.57-87.56.

Traders can maintain the stop loss at 81.71 and look for rise to take profits.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
-	82.85	78.39	UP	81.3	23.02	78.59	81.58	83.31	84.57	87.56

*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

Close	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	POSITION
82.9	-2.0	67948	-45.9	126255	-2.2	Negative	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
63.70	-7.36	74.76	-1.08	2.80	1.37	60.40	-8.44

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.