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Ny Cot Exchange Cotton No.2 July 2018 Weekly: Higher Range Is To Book Profits

2 Jun 2018 12:00 pm
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REPORT For Date 04/06/2018

Ny Cot Exchange Cotton No.2 July 2018 Weekly: Higher Range Is To Book Profits

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

Hold long position with a stop loss of 89.

We had indicated that rise 90.35 will extend the rise towards 97.

The high registered yesterday was 96.40.

The RSI indicator is in overbought zone therefore higher range can attract resistance and profit booking pressure.

Higher range for the week can be 96.61-103.44.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

93.3

83.4

UP

71.4

3.11

82.95

89.78

93.09

96.61

103.44


*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

93.3

4.6

109182.0

-3.6

104630.0

-11.8

Positive

Unwinding



TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

76.12

7.43

81.29

9.51

3.28

15.63

83.25

11.14






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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