REPORT For Date 23/04/2018
NY COT EXCHANGE Cotton No.2 (Price figures in cent/5000lbs):
Traders long and holding the same can maintain the stop loss at 81.
Expect higher range of 85.72-88.58 to be tested.
Further breakout and close above 85.83 is essential.
Expect resistance at higher range of 85.72-88.58.
Weaker opening and correction first to 83.84-82.86 can be used for accumulation with a stop loss of 81.
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
|
|
-
|
84.7
|
79.6
|
UP
|
71.4
|
3.11
|
80.00
|
82.86
|
83.84
|
85.72
|
88.58
|
*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
|
|
84.7
|
1.7
|
107507
|
4.3
|
129406
|
1.8
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
67.83
|
4.49
|
90.58
|
40.89
|
2.47
|
2.83
|
75.40
|
9.53
|
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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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