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CZCE Cotton No.1 January’19: Near Term Rise Above 17040

28 Jul 2018 3:54 pm
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REPORT For Date 30/07/2018


Yuan per ton


Cover short position at 16820 or below as the opportunity arises.

Resistance is at 17013-17040.

Support will be at 16777-16583.

Weakness is below 16485.

Sideways movement between 16485 and 17040 is likely to be witnessed.

Traders can buy above 17040 with low of the week as the stop loss or 16820 whichever is lower.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

16820.0

N/A

DOWN

N/A

N/A

16153

16583

16777

17013

17443


*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

16820.0

1.3

1282356.0

-9.8

-

-

-

-











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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