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

22 Jul 2017 2:44 pm
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Dated 24/07/2017

Cotton Seed Oil Cake Kadi- Last Close-1792- Expect Support At Lower Level


Monthly Chart

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.


       
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