REPORT For Date 2/04/2018
CZCE Cotton No.1 May '18 : Trend line breakdown for near term
Yuan per ton
Trend line breakdown has been witnessed with bearish candle.
Traders short and already holding the same can maintain the stop loss at 15075.
The support bottom is at 14650.
A fall and close below 14650 can lead to slide further.
Exit long and sell on rise from 14810-14988 with a stop loss of 15075.
Resistance will be at 14872-14988.
Expect lower range of 14693-14398 to be tested.
A rise and close above 15075 can once against turn trend up for reversal.
Overall sideways movements on long term chart have been witnessed and the same has been mentioned in our last 2 weeks update.
Kindly refer to earlier 2 weeks update to get connection with current movement.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
-
|
14810.00
|
15024.41
|
DOWN
|
14980.0
|
16.03
|
14398
|
14693
|
14872
|
14988
|
15283
|
*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
|
|
14810.00
|
-0.8
|
385442
|
-63.1
|
-
|
-
|
Negative
|
-
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
57.75
|
6.76
|
44.58
|
-23.22
|
385.86
|
-0.87
|
61.36
|
3.39
|
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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