REPORT For Date 30/04/2018
Ny Cot Exchange Cotton No.2 July 2018 Weekly: Breakout Essential
NY COT EXCHANGE Cotton No.2 (Price figures in cent/5000lbs):
Traders long and holding the same can maintain the stop loss at 83.50.
Resistance will be at 85.39-85.83-86.15.
Initially rise to resistance can attract resistance and profit booking pressure.
Further breakout and close above 86.15 is essential.
Traders long and holding the same can maintain the stop loss at 83.50.
Once the breakout above 85.83 is successful then expect a rise to 89-90 or above.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
84.51
|
79.90
|
UP
|
71.4
|
3.11
|
78.09
|
82.12
|
83.75
|
86.15
|
90.18
|
*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
|
84.5
|
-0.3
|
103198
|
-4.0
|
135328.0
|
4.6
|
Indecisive
|
Addition long/Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
66.87
|
-1.41
|
92.57
|
2.20
|
2.48
|
0.37
|
83.13
|
10.25
|
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.