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CZCE Cotton No.1 January’19: Sideways Volatility May Continue

8 Sep 2018 3:55 pm
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REPORT For Date 10/09/2018


Yuan per ton


Resistance is at 16850-17300.

Lower range can be 16400-15950.

The wider volatility range is 17555-16220.

Lower side of the band is 16220-16045.

Higher range can be used to exit long position if any and lower range can be used to cover short position.

Positional trades from directional movement angle should be avoided.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

16585.00

N/A

DOWN

N/A

N/A

15950

16400

16665

16850

17300


*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

16585.0

-0.5

1255186.0

-16.5

-

-

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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