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CZCE Cotton No.1 May '18 : Further Weakness Is Below 14650

7 Apr 2018 12:42 pm
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REPORT For Date 9/04/2018

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 14900.

The support bottom is at 14650.

A fall and close below 14650 can lead to slide further.

Exit long and sell on rise from 14725-14855 with a stop loss of 14900.

In the event of a fall and weekly close below 14650 with bearish candle expect a slide towards 14273.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

-

14725.00

15006.05

DOWN

14980.0

16.03

14405

14630

14760

14855

15080


*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

14725.0

-1.0

131444

-65.9

-

-

Negative

-


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

38.02

-7.13

11.90

-29.65

-98.96

-24.65

44.86

-9.36








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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