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CZCE Cotton No.1 SEPT 19: Resistance Remains At Higher Range

11 May 2019 2:47 pm
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REPORT For Date 11/05/2019


Yuan per ton


Exit long and sell on rise from 15345-15615 with a stop loss of 16090.

Resistance will be at 15410-15615

Lower range can be 15140-14665.

A sustained fall below weekly open and below 15040 then expect a slide towards 14594 or lesser.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

15345.00

15915.19

DOWN

15891.2

1.03

14665

15140

15410

15615

16090


*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

15345.0

-1.8

677536.0

-51.3

644742.0

-3.1

Negative

Unwinding


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

35.40

-10.28

18.97

-25.24

-334.13

-3.49

30.15

-12.50





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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