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Ny Cot Exchange Cotton No.2 December 2018 Weekly: Support Of 86 Critical

4 Aug 2018 3:27 pm
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REPORT For Date 06/08/2018


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


Traders by chance long and holding the same can maintain the stop loss of 86.

Expect higher range of 89.81-93.03 to be tested.

On sustained breakout and close above 90.

On sustained breakout and close above 90 can set a rise to 92.90-94.82.



TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

88.12

N/A

DOWN

N/A

N/A

83.37

86.59

88.29

89.81

93.03


*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.




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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