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CZCE Cotton No.1 January’19: Expect Lower Levels To Be Tested

27 Oct 2018 2:58 pm
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REPORT For Date 29/10/2018


Yuan per ton


Traders short and holding the same can maintain the stop loss at 15730.

Exit long and sell on rise from 15100-15345 with a stop loss of 15730.

Expect lower range of 14935-14525 to be tested.

On C1 – 5 years chart of CZCE Cotton support cluster points are at 14445, 14295 and 14020.

These support cluster points will be tested for a bounce and recovery from either of these points.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

15100.00

15503.56

DOWN

N/A

N/A

14525

14935

15180

15345

15755


*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

15100.0

-1.1

783672.0

-17.2

406168.0

-3.5

Negative

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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