REPORT For Date 03/12/2018
NY COT EXCHANGE Cotton No.2 (Price figures in cent/5000lbs):
Sideways movement and volatility between 80.50 and 75.37 is being witnessed.
Resistance will be at 79.76-81.90.
Support will be at 77.62-75.48.
Breakout and close above 80.5 is essential to show a rally otherwise can react down from higher range.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
78.91
|
79.15
|
DOWN
|
79.13
|
21.09
|
75.48
|
77.62
|
78.47
|
79.76
|
81.90
|
*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.
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
48.22
|
11.65
|
51.71
|
17.19
|
-1.17
|
6.68
|
41.74
|
67.20
|
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.
0 Comments 
Post Comment 
