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CZCE Cotton No.1 May 19: Further Weakness Is Below 14650

29 Dec 2018 2:32 pm
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REPORT For Date 31/12/2018


Yuan per ton


Traders short and holding the same can maintain the stop loss at 15415.

Resistance will be at 15233-15898.

On 20 Years chart, the support will be at 13785 and 12900.

On fall and close below 14650, expect slide towards 13785 and 12900.

Sell on fall and close below 14650 with high of the week as the stop loss or 14860 whichever is higher.




TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

14860.0

15545.7

DOWN

N/A

N/A

13903

14568

14942

15233

15898


*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

14860.0

-2.4

868432.0

17.2

357174.0

7.6

Negative

Addition Short

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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