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Ny Cot Exchange Cotton No.2 December 2018 Weekly: Reversal Up Above 84 Closing

8 Sep 2018 3:45 pm
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REPORT For Date 10/09/2018


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


Resistance will be at 82.60-83.87.

Near term rise is above 84 closing.

Lower range for the week can be 80.96-78.05.

The trend line a-c can be tested which is around 80.

Breakout and close above 84 will show a breakout above b-d trend line.

Traders can trade long above 84 with low of the week as the stop loss or 82 whichever is lower.



TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

82.220

81.420

UP

N/A

N/A

78.05

80.96

82.60

83.87

86.78


*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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