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Ny Cot Exchange Cotton No.2 July 2019 Weekly: Breakdown Witnessed

20 May 2019 9:15 am
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REPORT For Date 20/05/2019

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


Exit long and sell on rise from 65.99-68.22 with a stop loss of 72.31.

Expect 64.13-60 to be tested.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

65.99

75.18

DOWN

75.68

3.05

60.04

64.13

66.36

68.22

72.31


*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

27.90

-10.96

6.30

-52.66

-1.35

-91.17

14.19

-17.08


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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