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CZCE Cotton No.1 Septí18: Reversal Above 16200 Closing

7 Jul 2018 5:33 pm
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REPORT For Date 09/07/2018


Yuan per ton


Traders short and holding the same can maintain the stop loss at 16200.

Resistance is at 15600-15915.

Lower range can be 15115-14315.

Reversal could happen if sustains above the open and above 16200 at the end of the week at closing.

Support base is at 15100.

Recovery if any has to be from around 15100 level as a close below 15100 with bearish candle can extend the slide.

Stochastic is in oversold zone therefore lower range of 15115-14315 can attract support.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

15430.0

16186.9

DOWN

16105.0

22.06

14315

15115

15600

15915

16715


*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

15430.0

-3.1

247032.0

3.7

181990.0

-15.2

Negative

Unwinding

TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

43.65

-11.15

6.67

-67.00

174.46

-31.55

31.61

-26.03













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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