REPORT For Date 20/08/2018
Yuan per ton
Exit long and sell on rise from 16610 to 17287 with a stop loss of 17556.
Resistance is at 16753-17287.
Lower range can be 16077-14867.
Support cluster is at 16210-16045.
Severe breakdown will be below 16045.
It will be critical for Cotton price to find support in 16210-16045 for bounce and recovery.
The volatility band can be 16045 to 17555 for next few weeks.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
16610
|
N/A
|
DOWN
|
N/A
|
N/A
|
14867
|
16077
|
16753
|
17287
|
18497
|
*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
|
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
16610.0
|
-4.0
|
1918160.0
|
-23.4
|
454248.0
|
-15.8
|
Negative
|
Unwinding
|
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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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