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Ny Cot Exchange Cotton No.2 March 2019 Weekly: Resistance At Higher

2 Feb 2019 4:04 pm
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REPORT For Date 04/02/2019


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


Resistance will be at 74.61-74.85.

Lower range can be 72.91-71.21.

Traders short and holding the same can maintain the stop loss of 74.85.

Sell on rise to 73.88-74.61 with a stop loss of 74.85.

Pullback can be seen if sustains above 74.85 on closing.

In that case a rise towards WRV-76.75 can be witnessed,


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

73.64

76.75

DOWN

73.18

21.12

71.21

72.91

73.88

74.61

76.31


*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

39.85

-2.74

55.93

51.40

-2.02

0.67

33.44

-5.05

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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