REPORT For Date 18/06/2018
NY COT EXCHANGE Cotton No.2 (Price figures in cent/5000lbs):
Hold long position with a stop loss of 89.
Bearish candle has been formed which suggest that upside is locked.
Resistance is at 92.57-97.
Further rise can continue above 97 closing and till then use rise to exit long.
Lower range can be 88.65-82.65.
Near term correction to sideways volatility can be seen.
Correction towards the DRV is likely with volatility in near term to short term unless immediate rise and close above 97 is witnessed.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
90.72
|
85.24
|
UP
|
71.43
|
3.11
|
82.65
|
88.65
|
92.57
|
94.65
|
100.65
|
*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Close
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
90.7
|
-4.4
|
102920.0
|
-18.1
|
39425.0
|
-50.9
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
76.12
|
7.43
|
81.29
|
9.51
|
3.28
|
15.63
|
83.25
|
11.14
|
.jpg)
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.
0 Comments 
Post Comment 
