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Technical : Cotton Seed Kadi Spot : Downtrend Is In Progress

25 Jan 2018 5:13 pm
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Dated 25/01/2018


Technical : Cotton Seed Kadi Spot : Downtrend Is In Progress

Cotton Seed Gujarat Kadi- Last Close (Mean) 409

Daily Full chart as per Available Data




Sideways oscillation around the averages is likely.

The 55 VA is below 89 VA which indicates that bear market is still in place even as trend may turn up or down as it closes above or below averages.

Resistance is at 410 and 420.

Support will be at 380, 360 and 338.

Consolidation at lower range can be witnessed but trend is down.

Conclusion

Correction and down trend is in progress to test 380 or below levels.

       
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