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Ny Cot Exchange Cotton No.2 July 2018 Weekly: Consolidation At Lower Level Is Likely

14 Apr 2018 12:43 pm
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REPORT For Date 09/04/2018

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


Traders long and holding the same can maintain the stop loss at 78.55.

Expect higher range of 83.91-85.29 to be tested.

Further breakout and close above 85.83 is essential.

Expect resistance at higher range of 83.91-85.30.

Weaker opening and correction first to 85.53-81.15 can be used for accumulation with a stop loss of 78.55.

Once the breakout above 85.83 is successful then expect a rise to 90 or above.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

-

83.35

79.33

UP

71.43

3.11

81.15

82.53

83.08

83.91

85.29


*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

83.4

0.7

103120

-

0

-

Positive

-



TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

64.91

2.06

64.29

100.11

2.41

-0.44

68.84

9.26











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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