Technical: Cotton Seed Oil Cake - Expect Support At Lower Level

Dated 24/07/2017

Expect the support of last bottom of 1658 to be tested.


On fall and close below 1658 expect trend line breakdown to come into existence. Therefore, we may see first support and attempt of bounce from 1658.


In the event of a fall and close below 1658 the slide can be significant therefore chance of bounce or creating false breakdown can be higher.

Pullback reversal is above 1893.

Conclusion

Expect support and recovery from level around 1658.