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Ny Cot Exchange Cotton No.2 December 2018 Weekly: Range Bound Volatility

1 Dec 2018 12:02 pm
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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.


       
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