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

4 Aug 2018 3:26 pm
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REPORT For Date 06/08/2018


Yuan per ton


Traders by chance long and holding the same can maintain the stop loss at 16655.

Expect higher range of 17302-17967 to be tested.

Support will be at 16978-16637.

Sideways volatility may remain between 17320 and 16655.

Further rise is above 17320 closing.

Traders can buy if sustains above the weekly open of Monday and above 17320 with low of the week as the stop loss or 16960 whichever is lower at the point of rise above 16960.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

16960.00

N/A

DOWN

N/A

N/A

15972

16637

16978

17302

17967


*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

16960.0

0.8

2827104.0

81.5

523042.0

-0.4

Indecisive

Unwinding











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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