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CZCE Cotton No.1 Septí18: Expect Higher Range To Be Tested

5 May 2018 1:11 pm
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REPORT For Date 07/05/2018

CZCE Cotton No.1 Sept’18: Expect Higher Range To Be Tested
Yuan per ton

A strong positive candle was formed as it moved above 15490.

The high of 2 indecisive candles was crossed.

Expect rise towards Bollinger Band which is at 15680.

Support will be at 15528-15432.

Weaker opening and correction first to 15528-15432 can be used for buying with a stop loss of 15330.

Higher range for the week can be 15667-15902.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

-

15570.0

15385.0

UP

15405.0

20.04

15197

15432

15528

15667

15902


*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

15570.0

1.2

557062

11.3

289198

3.2

Positive

Addition Long


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

51.95

11.84

70.22

42.41

-31.90

30.87

72.28

2.75





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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