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CZCE Cotton No.1 May ’19: Further Rise Is Above 15480 Closing

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


Yuan per ton


Resistance will be at 15357-15480.

Further rise is above 15480.

Lower range can be 15152-14947.

Sell on rise from 15250 or above with a stop loss of 15480.

Sell if trades below the open and below 15100 with high of the week as the stop loss or 15480 whichever is higher.

If Cotton prices sustains above the weekly open and above 15480 with low of the week as the stop loss or 15250 whichever is lower.



TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

15250.00

15416.63

DOWN

N/A

N/A

14947

15152

15258

15357

15562


*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

15250.0

0.3

676086.0

-35.3

385422.0

-8.6

Indecisive

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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