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Ny Cot Exchange Cotton No.2 December 2018 Weekly: Further Weakness Is Below 75.37

6 Oct 2018 2:15 pm
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REPORT For Date 08/10/2018



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


Traders short and holding the same can maintain the stop loss at 77.20.

Further weakness is below 75.30 closing.

Resistance will be at 77.08-77.20.

If sustains above the Monday’s open and above 77.20 then expect near term pullback towards WRV-79.74.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

76.10

79.74

DOWN

79.13

21.09

73.42

75.25

76.22

77.08

78.91


*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

% V Inc/Dec

Open Interest

% OI Inc/Dec

Candle

Position

76.1

-0.4

77942.0

9.5

136434.0

0.2

Indecisive

Addition long/Short

TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC-

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

40.06

-1.11

9.00

-33.07

-0.80

-105.39

25.93

-7.64


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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